Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
The global volatility and uncertainty due to the coronavirus continue to weigh on the financial markets. The major central banks have imposed financial aid packages and lowered interest rates.
GBP/JPY was pushed lower our ideal target at 131.12 at the 78.6% corrective target and dipped to a low of 128.88. We do believe this is an overreaction and we also see a clear loss of downside momentum indication that a bottom should be found soon. We need a break above 131.28 and more importantly, a break above resistance at 134.32 that confirms wave 2/ has completed and wave 3/ is in motion for an ultimate break above 147.97.
R3: 134.32
R2: 133.68
R1: 132.61
Pivot: 131.28
S1: 130.73
S2: 129.47
S3: 128.88
Trading recommendation:
Our stop at 130.95 was hit for a small loss of 25 pips. We will re-buy GBP at 129.00 or upon a break above minor resistance at 131.28.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
