(MENAFN- FxPro)
- GBPJPY rising inside weekly wave 2
- Further gains are likely
GBPJPY continues to rise inside the weekly upward correction 2, which started earlier from the support area lying between the long-term support level 126.50 (which stopped the sharp downtrend in 2016) and the lower weekly Bollinger Band.
The active wave 2 belongs to the extended downward impulse sequence (3) from the start of 2019.
Given the strength of the aforementioned support area GBPJPY is expected to rise further and retest the next resistance level 134.00 (former support from July).
MENAFN1109201901560000ID1098990109
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.