empty
 
 
25.06.2020 07:08 AM
Elliott wave analysis of GBP/JPY for June 25, 2020

This image is no longer relevant

GBP/JPY is trading sluggishly. A break above minor resistance at 133.65 will indicate that the next impulsive rally higher to key-resistance at 136.35 is in motion. It may grow above the 139.67 peak.

We need the break above minor resistance at 133.65 to confirm the completion of this minor correction. Failure to break clearly above 133.65 will likely mean that the pair will trade sideways before it gains ground.

R3: 135.18

R2: 134.38

R1: 133.81

Pivot: 133.65

S1: 133.08

S2: 132.72

S3: 132.10

Trading recommendation:

We are long GBP from 132.85 with our stop placed at 131.55. Upon a break above minor resistance at 133.65 we will raise our stop to 132.50.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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 February 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
  • 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