empty
 
 
02.01.2020 08:07 AM
Elliott wave analysis of GBP/JPY for January 2, 2020

This image is no longer relevant

GBP/JPY continues to follow the expected path. We are currently in wave b of a zig-zag correction. We know the corrective formation must be a zig-zag as the decline from 147.96 to 141.14 (wave a) was in five waves. The current contra rally is wave b and it will ideally stall at the 61.8% corrective target of wave a at 145.36 before turning lower in wave c towards 139.82 to complete the zig-zag correction in black wave iv.

At this point only a break below 142.41 will indicate a premature conclusion of wave b and the onset of wave c lower towards 139.82.

R3: 145.36

R2: 144.94

R1: 144.40

Pivot: 144.19

S1: 143.65

S2: 143.38

S3: 143.28

Trading recommendation:

We are long 50% GBP from 141.50 and we will raise our stop and sell GBP to 142.35 and we will take profit + sell GBP at 145.20

Torben Melsted,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback