GbpJpy- Keep a close eye at 183.50 zone
After the high for the past 5 years close to 187, as it was normal, GbpJpy started to correct.
Recently, the pair reached the 181 zone and here we have a small double-bottom, with its neckline broken yesterday.
This suggests a continuation to the upside and a rise around the 183.50 zone.
However, considering that this level acted both as support and resistance in the past 2 months and also is confluent with the falling trend line from the top, traders could look for opportunities to sell, in anticipation of a new leg down.
The target could be set in recent's low zone and negation comes with a daily close above 184.50
Recently, the pair reached the 181 zone and here we have a small double-bottom, with its neckline broken yesterday.
This suggests a continuation to the upside and a rise around the 183.50 zone.
However, considering that this level acted both as support and resistance in the past 2 months and also is confluent with the falling trend line from the top, traders could look for opportunities to sell, in anticipation of a new leg down.
The target could be set in recent's low zone and negation comes with a daily close above 184.50
Note
180 target hit
📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
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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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.