GBPJPY: Consolidation and Complete Indecision 🇬🇧🇯🇵
https://www.tradingview.com/x/eV1aqWHH/
GBPJPY is very weak. The pair is coiling within a narrow range for 2 weeks.
FED & BOE interest rate decisions are ahead.
These news can be the important catalysts for the pair.
Watch carefully how the price reacts to the boundaries of the range.
If the price breaks and closes above 188.95 on a daily,
for us, it will be a strong trend following signal.
A bullish continuation will be expected then.
Alternatively, a bearish breakout and a daily candle close below 187.1
can give us a strong bearish confirmation and trigger a correctional movement.
Of course, because the trend is bullish, probabilities are higher that we will
see a movement up. However, I strictly recommend to wait for a confirmation first.
❤️Please, support my work with like, thank you!❤️
GBPJPY is very weak. The pair is coiling within a narrow range for 2 weeks.
FED & BOE interest rate decisions are ahead.
These news can be the important catalysts for the pair.
Watch carefully how the price reacts to the boundaries of the range.
If the price breaks and closes above 188.95 on a daily,
for us, it will be a strong trend following signal.
A bullish continuation will be expected then.
Alternatively, a bearish breakout and a daily candle close below 187.1
can give us a strong bearish confirmation and trigger a correctional movement.
Of course, because the trend is bullish, probabilities are higher that we will
see a movement up. However, I strictly recommend to wait for a confirmation first.
❤️Please, support my work with like, thank you!❤️
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