GBP/JPY – Week 26 – New top?
For this pair we give a higher probability for a move to the upside near term. When we look at the 4h timeframe, if the price breaks the resistance area (154.200) and after that the red trendline, we are looking at a move that will most probably create a new top. Every consolidation below or above the resistance area are good entry points for the move to the upside. If the price is rejected with a sharp move from resistance we could see a break of the 152.6 low and then a reversal to the upside. We will keep you updated.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
