empty
 
 
05.11.2019 07:54 AM
Elliott wave analysis of GBP/JPY for November 5 - 2019

This image is no longer relevant

The trading range has become even smaller in the last trading day and is now between 139.58 and 140.06, We continue to look for a move closer to at least 137.74 as long as resistance at 140.74 is able to cap the upside.

If, however, resistance at 140.74 is broken, it will open up the upside for a continuation towards 144.98 and longer-term much higher levels.

R3: 141.15

R2: 140.74

R1: 140.35

Pivot: 140.21

S1: 139.74

S2: 139.26

S3: 139.07

Trading recommendation:

WE will buy 50% GBP at 137.85 and 50% at 135.87 or we will buy 100% upon a break above 140.74

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