empty
 
 
03.04.2020 06:56 AM
Elliott wave analysis of GBP/JPY for April 3, 2020

This image is no longer relevant

Short-term support at 132.72 continues to act as a barrier keeping the corrective rally in wave iv alive for a possible final spike to just above 134.72. However, a clear break below the 132.72 support will indicate wave iv has completed and a break below support at 132.10 will confirm wave has completed and wave v to below 123.99 is unfolding.

So we remain in a wait and see situation, whether a final spike is needed in wave iv or wave v is ready to unfold.

R3: 135.50

R2: 135.05

R1: 134.72

Pivot: 134.40

S1: 133.45

S2: 132.70

S3: 132.10

Trading recommendation:

WE are short GBP from 134.45 with our stop placed at 135.45

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 $9000 more!
    In May we raffle $9000 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