Main Quotes Calendar Forum
flag

FX.co ★ Elliott wave analysis of GBP/JPY for October 20, 2020

parent
Forex Analysis:::2020-10-20T04:41:46

Elliott wave analysis of GBP/JPY for October 20, 2020

Elliott wave analysis of GBP/JPY for October 20, 2020

GBP/JPY has broken above short-term key- resistance at 136.40 which is a strong indication that red wave ii has completed and red wave iii now is in motion for a rally towards 143.18 and possibly even higher.

Short-term support is now seen at 136.40 with key-support at 135.82. The late must be able to protect the downside or a re-test of the former low at 135.38 will be seen.

R3: 137.25

R2: 137.06

R1: 136.78

Pivot: 136.67

S1: 136.52

S2: 136.41

S3: 136.19

Trading recommendation:

We are long GBP from 135.45 and we will raise our stop to 135.80

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...