GBPJPY - Long
Possible long sent up on GBPJPY following the Wednesday candle closes
January closed with a strong wick bounce from support at 137.00
And price over the past week has shown bullish intent
Break and retest of the descending TL on daily as well as a close above support at 141.50 which is a level confluent with a daily 38% fib support and todays daily candle shows bullish continuation
Anticipating price potentially reaching the -27% fib extension at 147.00
Lots of GBP news tomorrow though which will cause volatility so this trade will need appropriately managing
January closed with a strong wick bounce from support at 137.00
And price over the past week has shown bullish intent
Break and retest of the descending TL on daily as well as a close above support at 141.50 which is a level confluent with a daily 38% fib support and todays daily candle shows bullish continuation
Anticipating price potentially reaching the -27% fib extension at 147.00
Lots of GBP news tomorrow though which will cause volatility so this trade will need appropriately managing
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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.