GBP/JPY Long position if it closes above key resistance!
on the weekly chart for GBP/JPY we can see a clear bullish trend line represented on the daily chart as the blue trend line showing 4 consecutive bounces of this trend, after the 4th bounce of this weekly trend we can see price rising and closing above a daily bearish trend line as well as setting in play a new daily bullish trend line. however once again price has risen to this key historical resistance level at 187.462 (as seen as the yellow line) we must see GBP/JPY close above this level on the daily chart in order to execute this trade, if we successfully see the break and close above this key resistance our next target in sight will be the 191.931 - 193.757 target zone as illustrated on the graph as the green box.
NOTE:
- we will not be executing this trade unless we see a clear break and close of the resistance.
- this analyse is to be used alongside your own analyse for comparison, this is not a signal and this trade is not guaranteed profit.
NOTE:
- we will not be executing this trade unless we see a clear break and close of the resistance.
- this analyse is to be used alongside your own analyse for comparison, this is not a signal and this trade is not guaranteed profit.
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.