Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

GBP/JPY broke pivotal support level 152.00

  • GBP/JPY broke pivotal support level 152.00
  • Next sell targets - 148.00 and 146.00

GBP/JPY recently broke through the pivotal support level 152.00, which stopped the earlier minor impulse wave (i) at the start of April and which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level continues the active minor impulse wave 3, which belongs to the intermediate impulse wave (5) from the start of February.

GBP/JPY is likely to fall further to the next sell target at the support level 148.00 – the breakout of which can lead to further losses toward 146.00 (target price calculated for the completion of the active impulse wave (5)).

Scroll to top