empty
 
 
05.07.2019 06:41 AM
Elliott wave analysis of GBP/JPY for July 5, 2019

This image is no longer relevant

We continue to look for a final dip closer to 134.50 to complete the wave 2 and set the stage for a new impulsive rally in the wave 3 that will ultimately break above the 148.87 peak.

In the short term, we see resistance at 136.24 and important resistance at 136.89. And only a breakout above the later will confirm that the wave 2 has completed and the wave 3 is developing.

R3: 136.89

R2: 136.46

R1: 136.24

Pivot: 135.75

S1: 135.35

S2: 135.00

S3: 134.50

Trading recommendation:

We will buy GBP at 134.65.

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