GBPJPY completed correction, ready for more up side.
We predicted that GBPJPY will find short to medium term momentum to the upside. The bear case played out instead, liquidating longs placed back in April. We think that this last impulse move down has completed downwards correction and the pair is ready to make its move to the upside.
BULL CASE
There might be a short retrace early next week before a long sustained up move will continue. For more conservative traders, they can wait for a higher low formed to enter the trade.
BEAR CASE
One last momentum to the downside to fake out traders may be in the plays but if that happens, it's good opportunity to find discounts on our longs.
BULL CASE
There might be a short retrace early next week before a long sustained up move will continue. For more conservative traders, they can wait for a higher low formed to enter the trade.
BEAR CASE
One last momentum to the downside to fake out traders may be in the plays but if that happens, it's good opportunity to find discounts on our longs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.