Price broken out of a triangle pattern and it could reject off of it. If price comes back to 153.90 it could create a shoulder head shoulder pattern showing confirmation for a sell.
Fundamentally, JPY is strong and GBP is weakening for the past week, and we expect it to become more stronger this week
Break of Structure. also containing a H&S formation in Daily graph and moving average cross - over gives us strong signs to SHORT -> GBPJPY. IF the Structure Breaks the Resistance Zone of 150, then exit the Short Position!
Take Lesser Contracts...
GBPJPY Forecast: We will take a Long position @ 153.50 and collect profit by 153.70,154.30 & 155.10 by risking 1-3%.
Tips: Keep trailing your SL after 20+ Pips to lock your profit.
Many confluence confirmed: Uptrend.
Thanks to all those who have followed me and liked my post.
Special thanks to all those who DM me and commented on my analysis wanting to know...
Hey Guys, Been waiting for this short on GBPJPY.
I think it has aligned greatly for a short position, Will be updating the info as it goes. Stay tuned!
