The head and shoulders pattern is nearing completion, signaling that this pair is poised for a bullish move. The price's reaction at the neckline is crucial. From a broader perspective, GBPJPY is rebounding from a long-term channel, and on the 4-hour timeframe, it has broken through a downward channel. These indicators collectively suggest a strong signal to prepare for opening a long position
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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.