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GBPJPY Wave Analysis – 20 July, 2020

GBPJPY Wave Analysis – 20 July, 2020

  • GBPJPY reversed from support level 134.00
  • Likely to rise to 136.00

GBPJPY recently reversed up from the pivotal support level 134.00 (former resistance from June) – standing near the 50% Fibonacci retracement of the earlier upward impulse wave (1).

The upward reversal from the support level 134.00 started the active medium-term impulse wave (3).

GBPJPY is likely to rise further toward the next resistance level 136.00 (top of the previous impulse wave (1) from the start of July).

GBPJPY Wave Analysis – 20 July, 2020


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