GBPJPY Inverse Head And Shoulders and Potential Bat Pattern
Updated
Technicals:
Price closed above EMA50
Inverse Head And Shoulders Pattern became validated.
Potential Retest of the broken neckline is a buying opportunity.
Take Profit is as described in the chart.
Potential Breakout of TP1 could confirm TP2 and Potential Bearish Bat.
Invalidation of Inverse H&S is described.
Fundamentals:
Strong Yen as a safe haven however a technical correction in all JPY pairs is likely.
Oversold and cheap GBP.
Pay Attention:
Strong risk management is needed due to Brexit based volatility in GBP pairs.
Have a nice weekend!
Price closed above EMA50
Inverse Head And Shoulders Pattern became validated.
Potential Retest of the broken neckline is a buying opportunity.
Take Profit is as described in the chart.
Potential Breakout of TP1 could confirm TP2 and Potential Bearish Bat.
Invalidation of Inverse H&S is described.
Fundamentals:
Strong Yen as a safe haven however a technical correction in all JPY pairs is likely.
Oversold and cheap GBP.
Pay Attention:
Strong risk management is needed due to Brexit based volatility in GBP pairs.
Have a nice weekend!
Comment
Comment
The first target of I SHS pattern 129.850 - 130.000 I will update later.
Comment
TP1 OKComment
Update
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