Technical analysis

GBPJPY Wave Analysis 27 April, 2021

• GBPJPY reversed from support level 149.20

• Likely to rise to resistance level 152.00

GBPJPY recently reversed up from the key support level 149.20 (low of wave A) and the lower daily Bollinger Band.

The upward reversal from the support level 149.20 stopped the previous intermediate ABC correction (4).

Given the strong uptrend – GBPJPY is likely to rise further toward the next resistance level 152.00 (top of the previous correction B).

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