GBP/JPY-Daily analysis
Hello everyone!
-On this pair we can see that price broke through the ascending channel support line(purple lower line) and on lower time frames(4 hours and 1 hour time frame) we can see strong bearish momentum.
-That is because GBP is weakest currency on daily and weekly base and JPY is at very stable level and it is way more stronger than GBP.
-We can expect that price will keep falling in bearish direction because of currency strength and weaknesses.
-I plan to go short until my profit target reaches yellow support line and with minimal 1:3 risk reward ratio,...But that is just my opinion.
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On this pair we can see that price broke through the ascending channel support line(purple lower line) and on lower time frames(4 hours and 1 hour time frame) we can see strong bearish momentum.
-That is because GBP is weakest currency on daily and weekly base and JPY is at very stable level and it is way more stronger than GBP.
-We can expect that price will keep falling in bearish direction because of currency strength and weaknesses.
-I plan to go short until my profit target reaches yellow support line and with minimal 1:3 risk reward ratio,...But that is just my opinion.
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.