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28.01.202007:45 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for January 28 - 2020

Exchange Rates 28.01.2020 analysis

GBP/JPY is consolidating before pushing lower towards 140.80 and ideally into the target-zone between 139.29 - 139.83 to complete wave C of iv and setting the stage for the new impulsive rally to above 147.95.

In the short term, we should expect resistance near 142.94 capping the upside for renewed downside pressure towards 140.80 and likely closer to the target-zone between 139.29 - 139.83.

R3: 143.53

R2: 143.20

R1: 142.94

Pivot: 142.56

S1: 142.19

S2: 141.61

S3: 141.08

Trading recommendation:

We sold GBP at 143.95 and have our stop placed at 144.45

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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