Elliott wave analysis of GBP/JPY for April 4, 2019
April 4, 2019 5:23 pm
GBP/JPY is testing support at 145.90, which ideally will protect the downside for the next impulsive rally above 147.00 confirming a continuation higher to 148.50 and 151.50.
Only an unexpected break below support at 144.92 will shift the bias towards the downside again for a decline closer to 143.79 and possible even closer to 141.00.
R3: 147.50
R2: 147.00
R1: 146.29
Pivot: 145.67
S1: 145.39
S2: 144.90
S3: 144.62
Trading recommendation:
We are long GBP from 146.51 with our stop placed at 144.80
The material has been provided by InstaForex Company – www.instaforex.com
GBP/JPY is testing support at 145.90, which ideally will protect the downside for the next impulsive rally above 147.00 confirming a continuation higher to 148.50 and 151.50.
Only an unexpected break below support at 144.92 will shift the bias towards the downside again for a decline closer to 143.79 and possible even closer to 141.00.
R3: 147.50
R2: 147.00
R1: 146.29
Pivot: 145.67
S1: 145.39
S2: 144.90
S3: 144.62
Trading recommendation:
We are long GBP from 146.51 with our stop placed at 144.80
The material has been provided by InstaForex Company – www.instaforex.com
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