Traders,
Let's delve into the forecasted path for GBP/JPY:
Trend Analysis:
Upon examining the daily chart, we notice a resilient bullish channel that, despite being broken previously, has resurfaced with vigor. Furthermore, the strength of bullish candles outweighs downward movements.
Potential Obstacles:
Anticipate some hurdles or resistances along the upward trajectory. These include:
The daily resistance at approximately 188.600,
The declining trendline, and
The bottom of the channel.
These levels can serve as strategic points for trade entries or exits.
Potential Starting Point:
Consider initiating the upward movement between the levels of 186.00 and 185.00.
Keep a keen eye on these dynamics as you navigate GBP/JPY.
Best of luck in your trading endeavors!
Note
Since we expect a correction to 186.000Any breaks below the trend line the horizontal level will active a potential short trade!
Note
close some parts in profit!Note
Remaining parts of the trader closed in loss or in entry point!the path is still valid!
Note
Note
Get ready to open long trades after a confirmation!Note
It's miraculously in the path!
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.