Categories: Technical analysis

GBPJPY Wave Analysis 16 April, 2021

• GBPJPY reversed from support level 149.65

• Likely to rise to resistance level 151.00

GBPJPY recently reversed up from the multi-candle support level 149.65 (which has been steadily reversing this currency pair from the start of this month).

The upward reversal from the support level 149.65 stopped the previous minor ABC correction 4.

Given the oversold daily Stochastic and the strong daily uptrend – GBPJPY is likely to rise further toward the next resistance level 151.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPJPY

Recent Posts

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

8 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

8 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

11 hours ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

11 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

1 day ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

1 day ago

This website uses cookies