Get started
British Pound / Japanese Yen
Long

BUY-SIT BACK AND RELAX

By stivmuiruri
Updated
After a 2-5 year decrease in the price of the pair, a major support zone has been identified (127.279) to reverse the downward trend.In the monthly timeframe you can find the new support zone had been earlier hit and the retracement can suggest a long bullish trend (from a double botttom perspective).Another bullish indicator is the breakout of the daily trend to the upside,previous lower highs are new higher lows suggesting a breakout to the upside.
I predict a 'buy' signal to hit a take profit level of 138.343 against a stop loss level of 134.000
Trade closed: stop reached
Multiple Time Frame AnalysisSupport and ResistanceTrend Lines

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.