Categories: Technical analysis

GBPJPY Wave Analysis – 19 April, 2022

• GBPJPY broke resistance level 164.35
• Likely to rise to resistance level 168.00

GBPJPY is under the bullish pressure after the price broke above the key resistance level 164.35 (which stopped wave 3 at the end of March).

The breakout of the resistance level 164.35 accelerated the active impulse waves 5 and (C).

GBPJPY can be expected to rise further toward the next resistance level 168.00 (target price for the completion of the active impulse wave (iii)).

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.

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