Technical analysis

GBPJPY Wave Analysis – 2 June, 2021

• GBPJPY reversed from support level 154.80

• Likely to rise to resistance level 156.00

GBPJPY currency pair today reversed up from the pivotal support level 154.80 (former resistance level which reversed the price twice in May).

The upward reversal from the support level 154.80 is aligned with the clear uptrend that can be seen on the daily GBPJPY charts.

GBPJPY can then be expected to rise further toward the next resistance level 156.00 (top of the earlier minor impulse wave 3).

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