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GBPJPY UPDATE III: Price Continuing Higher

British Pound / Japanese Yen (FX:GBPJPY)  
ew-forecast  
FX:GBPJPY   British Pound / Japanese Yen
GBPJPY Elliott Wave correcton impulsive
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gbpjpy elliottwaves correcton impulsive
As we can see on the updated chart from yesterday, we see that price made a nice correction in wave (iv), and then made a nice reversal higher near the 38.2 Fibonacci projection, which usually acts as a support and a turning point for fourth wave corrections. Anyhow we now believe price can still reach higher levels within blue wave iii around the 1.618 and 2.0 Fibonacci ratio, before a possible higher degree correction can kick off.

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