**Monthly Chart**
Last month's candle closed with a large pin indicating that the long-term bias is still higher. This month the GBPJPY bounced from Nov 2015 high. However, the monthly candle is still active and we still need to see if it is able to break from the 188.00 level and continue higher or bounce from there and start going lower. I also need to see if the price could reach the high of August 2015 (Imbalance candle).
**Weekly Chart**
GBPJPY weekly candle closed slightly lower after it tested the high at around 188.00 level. Therefore, long-term directional bias is still high.
**Daily Chart**
The pair is moving nicely higher after it bounced from the Oct 2023 low creating a double bottom. I believe there is a good opportunity to take in alignment with the long term bias which is Bullish. However, any entry near 188.00 level would be considered risky trade. Therefore, I need to see a good bull back before taking a long trade. If the price rejected the level. Then I need to look for short-term selling opportunities with low risk.
Last month's candle closed with a large pin indicating that the long-term bias is still higher. This month the GBPJPY bounced from Nov 2015 high. However, the monthly candle is still active and we still need to see if it is able to break from the 188.00 level and continue higher or bounce from there and start going lower. I also need to see if the price could reach the high of August 2015 (Imbalance candle).
**Weekly Chart**
GBPJPY weekly candle closed slightly lower after it tested the high at around 188.00 level. Therefore, long-term directional bias is still high.
**Daily Chart**
The pair is moving nicely higher after it bounced from the Oct 2023 low creating a double bottom. I believe there is a good opportunity to take in alignment with the long term bias which is Bullish. However, any entry near 188.00 level would be considered risky trade. Therefore, I need to see a good bull back before taking a long trade. If the price rejected the level. Then I need to look for short-term selling opportunities with low risk.
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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.
Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
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.