Get started
British Pound / Japanese Yen
Long

GBPJPY ANALYSIS

By asanda_soso_cele
Updated
GBPJPY Showing signs of reversals. We see on our weekly chart that Price is trading around a support zone and along our Monthly upward trendline. On the H4 we see price tried to break the 128.122 support and is going at it for the third time (Confirming a triple bottom). Should they close above the 128.122 again on the current H$ candle that started at 15:00CAT we could be looking for perfect entry opportunities. For a safer entry We wait for the weekly to close on a hammer or a doji and looking for buy opportunities from next week.
Note
H4 instead of H...buy confirmation on h4 looking for a tight stop around 128.000.
Trade active
Move stops to entry level and hold the trade.
Note
Looking for a re-entry on the 15min double bottom formed and looking to place the stop at the low of the day.
Trade closed: stop reached
Chart PatternsTrend Analysis
asanda_soso_cele

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.