Elliott wave analysis of GBP/JPY for April 10, 2019

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We continue to look for a break above minor resistance at 145.77 and more importantly a break above resistance at 146.00 that confirms more upside pressure towards 148.50 on the way towards 151.50.

To shift the bias towards the downside a break below 144.90 is needed. Such a break will call for a decline to 143.79 and ultimately closer to 141.00 before the correction from 148.50 completes.

R3: 146.50

R2: 146.00

R1: 145.77

Pivot: 145.42

S1: 145.15

S2: 144.90

S3: 144.62

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Elliott wave analysis of GBP/JPY for April 10, 2019

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