GBPJPY: Classic Trend Following 🇬🇧🇯🇵

Long

British Pound / Japanese Yen (OANDA:GBPJPY)

OANDA:GBPJPY British Pound / Japanese Yen

Candlestick Analysis Support and Resistance Supply and Demand GBPJPY pound yen japaneseyen jpy Forex forecast trading techincalanalysis

candlestick supportandresistance supplyanddemand gbpjpy pound yen japaneseyen jpy forex forecast trading techincalanalysis

snapshot

GBPJPY remains very bullish from the beginning of the year.
After the last impulsive movement, the market retraced to a peculiar confluence zone.
I see a perfect match between 0.5 retracement of the last bullish leg and a horizontal structure support.

I will expect a pullback from that to 165.0 / 165.7

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