EUR/USD reversed from support zone Next buy target - 1…
GBP/JPY rising inside intermediate impulse wave (3)
- GBP/JPY rising inside intermediate impulse wave (3)
- Next buy target - 154.00
GBP/JPY has been rising in the last few trading sessions inside the intermediate impulse wave (3), which earlier broke through the resistance zone lying between the round resistance level 150.00 (previous buy target) and the resistance trendline of the wide daily up channel from last April. GBP/JPY is expected to rise to the next buy target at the next resistance level 154.00 (target price for the termination of the active intermediate impulse wave (3)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.