GBPJPY Long Bias
Updated
GBPJPY is on bearish trend and mainly for fundamental reasons.
the pair looks to be showing some reverse double bottom and the neckline retested.
My idea here is to wait if the the it has able break out of the resistance trendline.
The currently price is on strong level of Fibonacci 0.50 which the market is holding.
then wait for the retest to long GBPJPY.
The target could be around 155.00
What do you think of GBPJPY for next week?
the pair looks to be showing some reverse double bottom and the neckline retested.
My idea here is to wait if the the it has able break out of the resistance trendline.
The currently price is on strong level of Fibonacci 0.50 which the market is holding.
then wait for the retest to long GBPJPY.
The target could be around 155.00
What do you think of GBPJPY for next week?
Note
This was pair of the week, we have gained good amount of pips from GBPJPY and hope we continue getting more pips next week. Happy Trading!!
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