GBP/JPY Long Position analysis
Updated
GBPJPY
- 1st On the monthly timeframe a very strong bullish engulfing candle will take us to the major resistance level 155.00 for a long term investment.
- 2nd The weekly timeframe has formed a falling wedge pattern which will take the price up after closing above 55MA.
- the 55MA will be acting as the STOPLOSS and 200MA will be the TAKEPROFIT.
- 14RSI is in bullish trend to target the 66.55 RSI resistance level.
PS. Fundamental wise The signal might be effected due to Britain lock down.
TRADE SAFE & USE PROPER RISK MANAGEMENT !!!
- 1st On the monthly timeframe a very strong bullish engulfing candle will take us to the major resistance level 155.00 for a long term investment.
- 2nd The weekly timeframe has formed a falling wedge pattern which will take the price up after closing above 55MA.
- the 55MA will be acting as the STOPLOSS and 200MA will be the TAKEPROFIT.
- 14RSI is in bullish trend to target the 66.55 RSI resistance level.
PS. Fundamental wise The signal might be effected due to Britain lock down.
TRADE SAFE & USE PROPER RISK MANAGEMENT !!!
Trade closed: target reached
+397 Pips ProfitCongrats.
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