GBPJPY Wave Analysis – 25 November, 2019

GBPJPY reversed from support level 139.30
Likely to rise to 142.00

GBPJPY recently reversed up from the support level 139.30 (which is the lower boundary of the sideways price range inside which the price has been moving from the middle of October).

The upward reversal from the support level 139.30 started the active impulse wave 3 of the intermediate wave (C) from last month.

GBPJPY is expected to rise further toward the next pivotal resistance level 142.00 (upper boundary of the aforementioned sideways price range).

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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