Categories: Technical analysis

GBPJPY Wave Analysis 8 April, 2021

• GBPJPY broke support level 151.00

• Likely to reach support level 148.50

GBPJPY recently broke the support level 151.00 intersecting with the 50% Fibonacci correction of the upward impulse wave (iii) from the end of March.

The breakout of the support level 151.00 accelerated the active minor corrective wave (iv) from the start of April.

GBPJPY is likely to fall further toward the next support level 148.50 (low of the previous corrective wave (ii) and the target for the completion of the active wave (iv)).

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

Persisting pressure on crypto 

Market picture  The crypto market has lost 2% of its capitalisation over the last 24…

2 hours ago

S&P 500 Wave Analysis 7 May 2024

- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…

16 hours ago

USDCHF Wave Analysis 7 May 2024

- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…

16 hours ago

EURUSD at the equilibrium, where will it go next?

The single currency is trading near $1.076, waiting for further cues and facing serious resistance…

20 hours ago

Bitcoin can’t accelerate but won’t give up trying

Market picture  The crypto market capitalisation fell by 1.7% in 24 hours to $2.29 trillion,…

1 day ago

USDJPY Wave Analysis 6 May 2024

- USDJPY reversed from support zone - Likely to rise to resistance level 155.65 USDJPY…

2 days ago

This website uses cookies