GBPJPY → The bullish trend may continue for a long time. Why?

Mar 18

GBPJPY has been forming a bullish trend for 4 years. This trend may continue its growth as the national currency of Japan is not going to strengthen.



On W1 we see a clear trend within the global range. The target in the medium and long term could be 195.844. On H1 there is a beautiful price channel and flat. Within the flat price is trading between levels, earlier there was formed a capture of liquidity from the support at 188.83 (false breakout), which in this case formed a sufficient potential for further growth, as the key liquidity, which is now interested in the market, is located above 191.33.

Resistance levels: 190.08, 191.33
Support levels: 188.83, 187.96

In the near future we expect a breakthrough of resistance at 190.08 with further consolidation of the price above this area, which will form the potential for growth to the target

Regards R. Linda!

Mar 18

Trade active

Consolidation

Mar 19

Trade closed: target reached

Mar 19

Note

The resistance is broken. The price is going higher