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danresdidualfx

Potential Swing trade-GBP/JPY analysis

Long
British Pound / Japanese Yen (FX:GBPJPY)  
danresdidualfx Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators trend reversal Fibonacci Retracement consolidation-breakout
2
0
trendanalysis chartpattern indicator trend reversal fibonacciretracement consolidation-breakout
anticipating this move right now, price is still consolidating within the 135.50-137.00 region, however seeing the longer timeframes on the weekly there has been two consecutive Doji candles insinuating that sellers have taken profits, and the market is now accumulating money to reverse. Am expecting the price to pull back towards the trendline, around the psychological level of 136.000 before rallying towards the upside.
Comment:
Great risk reward ratio, almost 1:4

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danresdidualfx
Trade setup: GBP/JPY analysis
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