Predicted Path for GBP/JPY
Updated
Traders,
Let's delve into the forecasted path for GBP/JPY:
Trend Analysis:
Upon examining the daily chart, we notice a resilient bullish channel that, despite being broken previously, has resurfaced with vigor. Furthermore, the strength of bullish candles outweighs downward movements.
Potential Obstacles:
Anticipate some hurdles or resistances along the upward trajectory. These include:
The daily resistance at approximately 188.600,
The declining trendline, and
The bottom of the channel.
These levels can serve as strategic points for trade entries or exits.
Potential Starting Point:
Consider initiating the upward movement between the levels of 186.00 and 185.00.
Keep a keen eye on these dynamics as you navigate GBP/JPY.
Best of luck in your trading endeavors!
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Since we expect a correction to 186.000Any breaks below the trend line the horizontal level will active a potential short trade!
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close some parts in profit!Comment
Remaining parts of the trader closed in loss or in entry point!the path is still valid!
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Get ready to open long trades after a confirmation!Comment
It's miraculously in the path!
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