Using the the MN high, low which is 121.091 and 116.834 respectively; price action on the GBPJPY has passed the 50.0% and heading towards the 61.8/198.500 fibonacci level.
Given inevitable interim corrections on the lower D1 TF the overall strength of the cable is looking good. Will therefore a PA encounter with 61.8 be plausible? Time will tell.
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