GBPJPY Wave Analysis – 10 February, 2020

• GBPJPY reversed from support area
• Likely to rise to 143.40

GBPJPY recently reversed up from the support area lying between the pivotal support level 141.00 (which has been reversing the price from October), lower daily Bollinger Band and the 38.2% Fibonacci correction of the pervious upward impulse wave (C).

The upward reversal from this support area stopped the earlier short-term impulse wave 3.

GBPJPY is likely to rise further toward the next resistance level 143.40 (top of the pervious short-term corrective wave 2).