Gpbpjpy
GBPJPY | Big Move Ahead..!!GBPJPY (Update)
Facing Horizontal Resistance of Ascending Triangle in 1D Time Frame Chart.
RSI Indicator Showing It's in Overbought Territory & GBPJPY Might retest the Trendline of Triangle.
Expecting Upside Breakout, If Bulls Cleared the Resistance Area, In Worst Case, If Trendline Broken, It Might test the Major Support Area (125.00)
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GBP/JPY broken fibonacci level=>extensions to -62% GBP/JPY broken fibonacci level=>extensions
The last fibonacci zone is broken and we're heading to a fibonacci extension tot -62%.
We could enter from a retest outer trendline 134.000
Take profits 136.000
and 139.00
Always risk 1-3 % of your captital
GPJPY Bearish BATLooking at a potential Bearish Bat completion @ 161.139.
Price action moving back into structure, AB=CD pattern completion & 1.618 Fib extension of AB w/in AB=CD pattern.
RSI divergance / overbought (RSI +70) probable.
Given the bank holidays, there may be some potential volatility to be concerned about. Upcoming news from JPY unlikely to move markets. I expect the structural zone to hold until Yellen speaks and/or the Non Farrm #'s.