empty
 
 
20.06.2019 06:42 AM
Elliott wave analysis of GBP/JPY for June 20 - 2019

This image is no longer relevant

We are looking for a final dip closer to 134.52 to complete wave 2 and start a new impulsive rally in wave 3 that ultimately will take us back above the 148.87 peak.

in the short-term, a dip closer to 134.52 remains expected as long as minor resistance at 136.94 is able to cap the upside. However, from 134.52 or upon a break above 136.94 renewed upside pressure should be expected 148.87 and even closer to long-term resistance near 168.00.

R3: 137.35

R2: 136.94

R1: 136.56

Pivot: 136.08

S1: 135.85

S2: 135.35

S1: 135.00

Trading recommendation:

We will buy GBO at 134.65 or upon a clear break above 136.94

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback