Trading Conditions
Products
Tools
GBP/JPY has broken above short-term key- resistance at 136.40 which is a strong indication that red wave ii has completed and red wave iii now is in motion for a rally towards 143.18 and possibly even higher.
Short-term support is now seen at 136.40 with key-support at 135.82. The late must be able to protect the downside or a re-test of the former low at 135.38 will be seen.
R3: 137.25
R2: 137.06
R1: 136.78
Pivot: 136.67
S1: 136.52
S2: 136.41
S3: 136.19
Trading recommendation:
We are long GBP from 135.45 and we will raise our stop to 135.80
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.