empty
 
 
22.10.2019 06:52 AM
Elliott wave analysis of GBP/JPY for October 22 - 2019

This image is no longer relevant

Voting for Prime Minister Boris Johnson's Brexit deal was rejected for the second time. Nevertheless, soon or late the British parliament will have to vote on the proposal. A yes to the deal will likely be favorable to the GBP, while a no-vote will hurt GBP in the short-term. It is hard to predict the outcome but the loss of upside momentum indicates the likelihood of a no-vote. Additionally, correction in GBP/JPY towards 135.67 before renewed strength may push GBP/JPY higher again towards 144.98 and above in the longer-term.

R3: 142.26

R2: 141.50

R1: 141.00

Pivot: 140.56

S1: 139.46

S2: 138.60

S3: 137.84

Trading recommendation:

We are looking for a new GBP buying opportunity near 135.75

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