Good morning traders! Today we bring you a medium-long-term analysis on GBP/JPY, as it is in a situation that is worth evaluating.
🔸We see that the price has been moving inside the ascending channel for about a year.
🔸Although the general direction is bullish, it has been in a consolidation for several weeks.
🔸Now, what we are waiting for is a touch of the Ascending Trend line.
🔸Once this happens, we are going to pose the two possible scenarios.
🔸The first situation involves a rebound from the trend line and an upward movement, the target of which is the Resistance zone.
🔸If there is not enough demand in the area and the trend line is penetrated, we will consider the bearish view. If this happens, we will look for a retest + rejection towards the next support zone.
🔸We see that the price has been moving inside the ascending channel for about a year.
🔸Although the general direction is bullish, it has been in a consolidation for several weeks.
🔸Now, what we are waiting for is a touch of the Ascending Trend line.
🔸Once this happens, we are going to pose the two possible scenarios.
🔸The first situation involves a rebound from the trend line and an upward movement, the target of which is the Resistance zone.
🔸If there is not enough demand in the area and the trend line is penetrated, we will consider the bearish view. If this happens, we will look for a retest + rejection towards the next support zone.
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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.