GBPJPY: Trend Reversal and How to Trade
We can see a clear trend reversal in the 1H chart. The price broke the main downtrend. After the retest, we could see an upward movement. Higher highs and higher lows confirmed a new uptrend. What does it mean?
It means that we should search for buying opportunities as it will allow us to trade in the direction of the bullish trend. We have to use correction movements in combination with price reversal signals at the support zones for opening long trades. The market has the space for the upward movement and 142.500 resistance will be the main target for the buyers.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It means that we should search for buying opportunities as it will allow us to trade in the direction of the bullish trend. We have to use correction movements in combination with price reversal signals at the support zones for opening long trades. The market has the space for the upward movement and 142.500 resistance will be the main target for the buyers.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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