GBPJPY Weekly Outlook 0th November 2017
We have seen the pair have a bullish run and have some corrective waves form. This has given us a very bullish looking Flag / pennant formation.
Price has been respecting the ascending daily trend line creating Higher Highs and Higher lows. The is some further confluence with a 0.618 fib at the trend line and where price has recently rejected and fail to break lower.
This could be a abc wave up to recent daily highs of 152.800
Price has been respecting the ascending daily trend line creating Higher Highs and Higher lows. The is some further confluence with a 0.618 fib at the trend line and where price has recently rejected and fail to break lower.
This could be a abc wave up to recent daily highs of 152.800