Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/JPY broke resistance zone
2019-11-11 • Updated
- GBP/JPY broke resistance zone
- Next buy target - 145.00
GBP/JPY continues to rise after the earlier breakout of the resistance zone lying between the resistance level 143.00 (which stopped the previous minor impulse wave (i), as can be seen below) and the 50% Fibonacci retracement of the previous downward impulse from the start of August. The breakout of this resistance zone accelerated the active minor impulse wave (iii) – which belongs to the impulse wave 3 from the middle of June. GBP/JPY is expected to rise to the next buy target at the next resistance level 145.00 (target price for the active impulse wave (iii)).
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