Technical analysis

GBPJPY Wave Analysis – 27 May, 2021

• GBPJPY broke resistance level 154.80

• Likely to rise to resistance level 156.00

GBPJPY currency pair recently broke the key resistance level 154.80 (which reversed the price earlier this month).

The breakout of the resistance level 154.80 accelerated the active minor impulse wave 3 – which belongs to wave (5) from April.

Given the sharp uptrend – GBPJPY currency pair can then be expected to rise further toward the next resistance level 156.00 (target for the completion of the active impulse wave 3).

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