Technical analysis

GBPJPY Wave Analysis 28 August 2023

– GBPJPY reversed from key support level 183.65

– Likely to test resistance level 186.00

GBPJPY currency pair recently reversed up from the key support level 183.65, which reversed the pair in June and July.

The upward reversal from the support level 183.65 stopped the earlier short-term correction ii.

Given the clear daily uptrend, GBPJPY currency pair can be expected to rise further toward the next resistance level 186.00 (which reversed the pair earlier this month).

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