H4 outlook

After such a sharp upwards move, it seems now that the bulls are losing their momentum and should start a downwards correction phase. A 38.2% retracement will bring the price down to 140.9x and I wouldn't be surprised if the beast decides to go down all way to 138.4x which coincides with  the GBPJPY's favorite 61.8% retracement level within next few days.

Below is the H4 chart as of 1 pm Malaysia.



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