GBPJPY Wave Analysis 10 May, 2021

• GBPJPY broke resistance level 153.35

• Likely to rise to resistance level 156.00

GBPJPY recently broke the key resistance level 153.35 (top of the previous short-term impulse wave 1 from the start of April).

The breakout of the resistance level 153.35 accelerate the active short-term impulse wave 3 – of the longer-term impulse sequence (5) from March.

Given the strong daily uptrend – GBPJPY is likely to rise further toward the next resistance level 156.00 (target for the completion of the active impulse wave 3).