empty
 
 
15.06.2020 05:26 AM
Elliott wave analysis of GBP/JPY for June 15, 2020

This image is no longer relevant

GBP/JPY broke above resistance at 135.25 and more importantly above resistance at 135.90. It was a clear indication that a firm corrective low had been found at 133.77. In the short-term, we are looking for a break above minor resistance at 134.72 as a confirmation that the correction from 136.04 has completed and a new impulsive rally towards 137.37 and 138.67 is in motion on the way higher to 148.32.

R3: 136.04

R2: 135.41

R1: 134.75

Pivot: 134.60

S1: 134.00

S2: 133.77

S3: 133.23

Trading recommendation:

We are long GBP from 135.35 with our stop placed at 133.70

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