Elliott wave analysis of GBP/JPY for March 6, 2019

Support is now seen at 146.58 with back-up support at 146.21.

R3: 148.57

R2: 147.83

R1: 147.44

Pivot: 147.10

S1: 146.58

S2: 146.21

S3: 145.79

Trading recommendation:

We remain long GBP from 143.15 with our stop placed at 146.00. If you are not long GBP yet, then buy a break above 147.44 and use the same stop at 146.00.

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