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GBPJPY - Long trade = with two options at dynamic resistance
British Pound / Japanese Yen
Long
GBPJPY - Long trade = with two options at dynamic resistance
By UnknownUnicorn483829
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Jul 29, 2019
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Jul 29, 2019
Hello all - DuncanForex here with another trade idea
With EURJPY flying higher this afternoon on it's second leg higher.
ALl JPY pairs want to head higher, however GBP is weighed down by more and more Brexit short term news.
They key is to get in when positive GBP news comes out as it will fly higher to catch up with all the other Yen pairs.
THere is divergence on the 1 hour chart - I have gone long back up to resitance and then drawn two scenerios of what may happen next.
I am expecting it to head higher and break out from the larger descending trend line, however with GBP at the moment, who knows.
I am leaning towards trading other pairs at present - however this trade meets 1 set of my rules (reversal) , so I am in
Thanks for looking
Duncanforex.com is live
Cheers
Duncan
Candlestick Analysis
duncanforex
Forex
GBPJPY
jpy
learntotrade
Pivot Points
Support and Resistance
yen
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