GBPJPY is attempting to exit the channel. Against the background of a global bullish trend a set-up "FLAG" is forming, which can form a good bullish signal.
TA on high timeframe:
1) Bullish trend.
2) Moving averages 50MA, 100MA, 200MA - price support
3) Presumably, the correction ended at 167.7. The growth may continue in the near future.
TA on the low timeframe:
1) Price makes a retest of flag resistance (descending channel)
2) The ascending triangle is forming.
3) Resistance at 170.62 is key for us. If the price breaks the resistance, a bullish impulse is formed.
4) If the price does not break resistance, but returns to the channel, then from the channel resistance we will see a fall towards the middle of the channel
Key resistance: 170.62
Key support: 170.100
TA on high timeframe:
1) Bullish trend.
2) Moving averages 50MA, 100MA, 200MA - price support
3) Presumably, the correction ended at 167.7. The growth may continue in the near future.
TA on the low timeframe:
1) Price makes a retest of flag resistance (descending channel)
2) The ascending triangle is forming.
3) Resistance at 170.62 is key for us. If the price breaks the resistance, a bullish impulse is formed.
4) If the price does not break resistance, but returns to the channel, then from the channel resistance we will see a fall towards the middle of the channel
Key resistance: 170.62
Key support: 170.100
Trade closed: target reached
❤️ Telegram channel: t.me/AndeWave
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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.
❤️ Telegram channel: t.me/AndeWave
Related publications
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.