Rayyan_2805

Small Up and Big Down for GBPJPY : Upcoming week

Short
FX:GBPJPY   British Pound / Japanese Yen
Possible parallel movement from GBPJPY .. As you can see there is a perfectly formed uptrend in a parallel channel . We can expect the price to respect both the support and resistance of the trend lines and keep going in the direction of the channel. This can also be confirmed by the fact that the price has recently broken a minor support turned resistance level and the pullback has already happened which can give us an indication that the price will continue moving upwards and since it is only a minor resistance level the price should still respect the boundaries of the uptrend channel . Keep an eye out as I will be following this pair closely throughout the upcoming week. FX:GBPJPY

It would be worth waiting for the price to go up to the trend line resistance and then entering the sell. Or you can scale your way up to the trend line resistance.
Comment: **SPOT ON AS ALWAYS**