Categories: Technical analysis

GBPJPY Wave Analysis – 8 September, 2020

• GBPJPY under strong bearish pressure
• Likely to fall to 136,56

GBPJPY under strong bearish pressure after the earlier breakout of the steep daily up channel from the end of June.

The price is currently trading close to the support level 138,25 (low of the daily Morning Star from the end of August).

If the price closes today the support level 138,25 – GBPJPY can then be expected to fall further toward the next support level 136,56 (target for the completion of the active wave 4 and the former resistance from July).

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

Bitcoin is holding, while Solana is on the edge

Bitcoin remains stable near $87K, outperforming altcoins, while Solana faces key support at $120. Institutional…

2 hours ago

The dollar’s wings have been clipped

Waller's dovish rhetoric halted the bears' attack on EURUSD. Slowing UK inflation caused the pound…

2 hours ago

Dow Jones Wave Analysis – 17 December 2025

Dow Jones: ⬇️ Sell - Dow Jones reversed from resistance level 49000.00 - Likely to fall…

18 hours ago

Comcast Wave Analysis – 17 December 2025

Comcast: ⬆️ Buy - Comcast broke resistance area - Likely to rise to resistance level 31.00…

18 hours ago

Platinum Wave Analysis – 17 December 2025

Platinum: ⬆️ Buy - Platinum broke resistance level 1800.00 - Likely to rise to resistance…

19 hours ago

Silver Wave Analysis – 17 December 2025

Silver: ⬆️ Buy - Silver broke resistance zone - Likely to rise to resistance level…

19 hours ago

This website uses cookies