28.11.202207:17 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for November 28, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Our preferred count remains firmly in place here as we are looking for a continuation to support at 163.03. A break below here will confirm our outlook for a corrective decline to 150.09 and likely even closer to the 61.8% corrective target at 145.76 before the correction from 168.43 finally comes to an end and a new impulsive rally should be expected.

Short-term we see resistance near 167.79 which we expect will be able to protect the upside for a continuation lower towards 163.03 and ultimately below here too.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.