GBPJPY: A clear SIGN of Inversion!
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
GBP/JPY
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting trendline, moving up until a strong resistance zone at about 142.500.
It got many rejections on that level and it is currently re-testing the same zone.
In the daily perspective, a red pin bar just around the resistance zone could be an interesting sign of weakness and market reversal.
🔴Conclusion:
I'm confident to see the price going down until the next support zone and eventually even more if it will be able to break its main trendline.
Once I'll get a proper confirmation of market reversal, I'll open my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
GBP/JPY
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting trendline, moving up until a strong resistance zone at about 142.500.
It got many rejections on that level and it is currently re-testing the same zone.
In the daily perspective, a red pin bar just around the resistance zone could be an interesting sign of weakness and market reversal.
🔴Conclusion:
I'm confident to see the price going down until the next support zone and eventually even more if it will be able to break its main trendline.
Once I'll get a proper confirmation of market reversal, I'll open my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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.