OANDA: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!
Trade active
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Consolidation
Trade closed: target reached
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Comment
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The resistance is broken. The price is going higher