For Traders

Analytical Reviews

Wave analysis

27.01.202108:53 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for January 27, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/JPY only dipped to 141.76 before moving higher through the ascending triangle resistance at 142.26 for a continuation higher towards 142.75 and above towards 143.78 and 144.96 as the next minor upside targets.

A break above 142.75 will add upside momentum.

Only an unexpected break below 141.25 will indicate a temporary top for a dip to 137.20.

R3: 144.96

R2: 143.78

R1: 142.75

Pivot: 142.26

S1: 141.68

S2: 141.25

S3: 141.07

Trading recommendation:

We re-bought GBP at 142.27 and we have placed our stop+revers at 141.25

Back to the list

Open trading account

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.