GBPJPY Wave Analysis 16 April, 2021

April 16, 2021 at 03:46PM

• GBPJPY reversed from support level 149.65

• Likely to rise to resistance level 151.00

GBPJPY recently reversed up from the multi-candle support level 149.65 (which has been steadily reversing this currency pair from the start of this month).

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The upward reversal from the support level 149.65 stopped the previous minor ABC correction 4.

Given the oversold daily Stochastic and the strong daily uptrend – GBPJPY is likely to rise further toward the next resistance level 151.00.

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpjpy-wave-analysis-16-april-2021-20210416/
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April 16, 2021 at 03:46PM

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