Great Opportunity to buy GBP Vs JPY

Sep 21, 2022

For education purpose only. Trade at your own risk.

It is a great opportunity to buy GBP Vs JPY.

Following logic is used to arrive at the Long bias.

1. Pivot 2 is highly manipulated in Pivot 4
2. Multiple Pitchforks (Modified pitchfork, Width pitchfork, Frequency tuned pitchfork) conclude at Pivot 4, indicating it as a moment of exhaustion.
3. Momentum Offset / Divergence of Price with RSI in Pivot 2 and Pivot 4

Conclusion: Great opportunity to Long between 162.5 and 163 (ALONG the bottom line of Blue Pitchfork).
Target 164.5
SL: 162