Elliott wave analysis of GBP/JPY for February 22, 2019
February 22, 2019 7:22 am
We remain bullish for a break above resistance at 144.84 that will open up for a continuation of the bullish trend towards 145.92 on the way higher to 149.41 and the 161.8% extension target at 151.50.
Support is now seen at 144.05 and again at 143.55. Ideally the later will protect the downside for the expected break above 144.84 soon.
R3: 145.92
R2: 145.53
R1: 144.84
Pivot: 144.05
S1: 143.55
S2: 142.23
S1: 142.88
Trading recommendation:
We are long GBP from 143.15 with our stop at break-even at 143.15
The material has been provided by InstaForex Company – www.instaforex.com
We remain bullish for a break above resistance at 144.84 that will open up for a continuation of the bullish trend towards 145.92 on the way higher to 149.41 and the 161.8% extension target at 151.50.
Support is now seen at 144.05 and again at 143.55. Ideally the later will protect the downside for the expected break above 144.84 soon.
R3: 145.92
R2: 145.53
R1: 144.84
Pivot: 144.05
S1: 143.55
S2: 142.23
S1: 142.88
Trading recommendation:
We are long GBP from 143.15 with our stop at break-even at 143.15
The material has been provided by InstaForex Company – www.instaforex.com
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