GBP/JPY - Forecast (Edited)
As you can see we have multiple trends and zones. I have labelled each trend and zone for your educational purposes, hoping you will understand where I am coming from.
- The Daily trend shows UP
- The 4h TF (Timeframe) also shows UP
We have a 4h zone which has been highly respected in the past. We are hoping for a breakthrough this time, hoping it will break through the zone and come back to retest it as Supp. If this is the case then we will enter a position until the next zone which is daily, which is really strong.
This trade is a 18.00 Risk Ratio with a 20 pip Stop Loss and a 360 pip Take Profit.
The only reason why this trade should not break the 4h zone and rally back down towards 136.000 is due to COVID-19 as the UK are planning on returning into partial lockdown status.
If you have got this far, please give this 'idea' a Like & Follow!
- The Daily trend shows UP
- The 4h TF (Timeframe) also shows UP
We have a 4h zone which has been highly respected in the past. We are hoping for a breakthrough this time, hoping it will break through the zone and come back to retest it as Supp. If this is the case then we will enter a position until the next zone which is daily, which is really strong.
This trade is a 18.00 Risk Ratio with a 20 pip Stop Loss and a 360 pip Take Profit.
The only reason why this trade should not break the 4h zone and rally back down towards 136.000 is due to COVID-19 as the UK are planning on returning into partial lockdown status.
If you have got this far, please give this 'idea' a Like & Follow!
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