Hello traders,
In this idea, I'm sharing my analysis and position on GBPJPY.
Weekly Chart: I've drawn a Fibonacci channel, and the price has recently bounced off the 38.2% level. I anticipate that the price will retest the middle line of the uptrend channel, around the 193 to 195 range.
Daily Chart: I've identified a bearish cup & handle pattern and set the corresponding targets. However, I'm waiting for confirmation with a break below the support at 183.6 before taking further action.
Feel free to share your thoughts and insights!
In this idea, I'm sharing my analysis and position on GBPJPY.
Weekly Chart: I've drawn a Fibonacci channel, and the price has recently bounced off the 38.2% level. I anticipate that the price will retest the middle line of the uptrend channel, around the 193 to 195 range.
Daily Chart: I've identified a bearish cup & handle pattern and set the corresponding targets. However, I'm waiting for confirmation with a break below the support at 183.6 before taking further action.
Feel free to share your thoughts and insights!
Note
Daily chartNote
4h update, I am waiting a confirmation to set a positionNote
short position
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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.