GBPJPY Wave Analysis – 09 April, 2020

• GBPJPY broke resistance area
• Likely to rise to 136.95

GBPJPY recently broke the resistance area lying between the key resistance level 134.00 (which stopped the previous wave A in March) and the 50% Fibonacci retracement of the downward impulse C from February.

The breakout of this resistance area continues active short-term impulse wave C – which started earlier this month.

GBPJPY is likely to rise further toward the next resistance level 136.95 (former strong support from the start of March and the likely price for the completion of the active impulse wave (i)).