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Long

GBP/JPY forms Bullish Bat Pattern, good to buy at dips

FX:GBPJPY   British Pound/Japanese Yen
420 3 8
Harmonic Pattern Formed- Bullish Bat Pattern

Potential Reversal Zone (PRZ) -155

The pair has slightly recovered after making a low of 155.72. It is currently trading around 156.06.

Short term trend is slightly bullish as long as support 155 holds.

On the higher side minor resistance is around 156.75 and any break above will take the pair till 157.30 (4H Tenken-Sen)/158/159.60 in short term.

GBP/JPY             major support is around 155 and any break below targets 153.50/152.

Overall bearish invalidation only above 162.60.

It is good to buy at dips around 156 with SL around 155 for the TP of 157.30/158
DinhVanThach
a year ago
agreed w you 100%. JPY will be weaken in coming days
Reply
smrzhdy
a year ago
snapshot
Reply
ahmedfx
a year ago
gbpjpy

any up structure is good oppe to sell it for long target 149 -147
Reply
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