Technical analysis

GBPJPY Wave Analysis 13 September 2023

– GBPJPY reversed up from support level 183.30

– Likely to rise to resistance level 186.00

GBPJPY recently reversed up from the support level 183.30 (former top of wave i from the end of July) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 183.30 stopped the previous impulse wave ii of wave C from last month.

Given the overriding daily uptrend, GBPJPY currency pair can be expected to rise further toward the next resistance level 186.00 (top of the pervious waves 5 and B).

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