GBPJPY
Updated
My view on the GBPJY pair. I believe we'll see drop further down towards the 0.618 fib level @ 158.45 before surging upwards again. This would complete an ABCD wave reach the previous structures their highs and reaching the top of the box. I believe this will be a good point to short the GJ all the way down to the trend line/bottom of the box.
The drop down is would fit perfectly with the Stoch RSI being oversold and the RSI bouncing of its upward trend line.
Trade with caution.
The drop down is would fit perfectly with the Stoch RSI being oversold and the RSI bouncing of its upward trend line.
Trade with caution.
Note
Currently +260 pips.Note
Trade closed.Long target hit: 418 pips
Short target hit: 862 pips
Total profit: 1280 pips.
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.