GBPJPY - Checkpoint Ahead ✅

19. Apr. 2023

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

GBPJPY has been trading in range between our blue/green support and resistance zones.

Lately, from a medium-term perspective, GBPJPY has been bullish trading inside the rising broadening wedge pattern and it is currently approaching the upper red trendline.

Moreover, the blue zone 169.0 is a strong resistance.

🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. (acting as non-horizontal resistance)

As per my trading style:
As GBPJPY approaches the upper purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich