GBPJPY - AREA OF CONFLUENCE - TRENDLINE BREAK OR RETEST?

British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

GBPUSD GBPJPY USDJPY

gbpusd gbpjpy usdjpy

We're keeping a close eye on GBPJPY to give us a hint in terms of where it'll be heading to next. As we can see the current level is parked on the bottom ascending trendline. If we see a break of this trendline we'll be interested in going short, if we see a rejection then we'll be looking for an opportunity to go long targeting the descending trendline.

Clear charts, clear analysis, clear edge.

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