VladimirRibakov

VladimirRibakov

Pair false breaked the last low, also broke the most recent bearish trend line and a small triangle that we find on the M15 chart. I think we can expect the pair to rally from here Target 1: 0.7480 Target 2: 0.7520 Stop Loss: Below the recent low around 0.7390.

VladimirRibakov

There is a double wave move that completed on the Daily chart. I think the pair has reached a top and it is about to reverse from here. Look for this false break on the H1 chart and go for a sell Target 1: up trend line (from the lows) Target 2: D1 20 MA Stop Loss: above last high

VladimirRibakov

As long as the bearish trend line holds the price we can expect the GBPJPY to continue lower. There is a potential double wave up correction, forming on the H1 chart. We should follow the up trend line and most recent support for a break. If successful we may consider going short.