GBPJPY / H4 / Trend Continuation
Updated
This pair had a down move last couple of weeks and now it formed nice rising wedge pattern which is usually a trend continuation sign once broken.
On H4 timeframe keep an eye on break and close below 149.13 level, and for agressive entry you can short on retest of that level.
If you prefer safer approach, wait for close below rising wedge support line and then enter short.
Target is sitting at 147.700
SL should be above 149.500, keep in mind that we also have resistance trendline, so if it doesn‘t hold, you can consider stopping out manually.
On H4 timeframe keep an eye on break and close below 149.13 level, and for agressive entry you can short on retest of that level.
If you prefer safer approach, wait for close below rising wedge support line and then enter short.
Target is sitting at 147.700
SL should be above 149.500, keep in mind that we also have resistance trendline, so if it doesn‘t hold, you can consider stopping out manually.
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