empty
 
 
27.03.2020 10:11 AM
Elliott wave analysis of GBP/JPY for March 27, 2020

This image is no longer relevant

GBP/JPY continues to move higher in wave iv towards our ideal target set at 134.52. That said, we do see a clear loss of upside momentum, which could indicate difficulties reaching this target, but only a break below support at 131.00 will indicate that wave iv already has completed and wave v towards 123.04 is developing.

Once the 123.04 target has been reached a new impulsive rally will be expected.

R3: 134.52

R2: 134.00

R1: 133.45

Pivot: 132.59

S1: 132.10

S2: 131.00

S3: 129.81

Trading recommendation:

We continue to look for a GBP selling opportunity at 134.45 or upon a break below 131.00

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 $8000 more!
    In March we raffle $8000 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