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JoshFX1

GBPJPY Bull Party Has Only Just Started

Long
British Pound / Japanese Yen (FX_IDC:GBPJPY)  
JoshFX1 Updated   
FX_IDC:GBPJPY   British Pound / Japanese Yen
Support and Resistance Wedge Wave Analysis GBPJPY jpy GBP pound gbpjpyshort gbpjpybuy gbpjpysell gbpjpylong
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supportandresistance wedgepattern waveanalysis gbpjpy jpy gbp pound gbpjpyshort gbpjpybuy gbpjpysell gbpjpylong
GBPJPY is a perfect example of why you should also look at te higher time frames. If you would only look at the 30m, 1h, 4h, or even the daily you would quickly judge the GBPJPY has gone up a lot already and that it would be very logical to go back down again. How ever when you take a look and the weekly and monthly you see that price is still rather low and it actually just started its way back up.

This is also what we see here on the weekly time fame for GBPJPY. A long term upper range has been broken and its touching the same resistance now for the 3rd time. Which means chances of it breaking this time have only gone up.

So long term GBPJPY would be a beautifull buy position to hold on to and add more buys a long the way up!!!
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