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Short

GBP/JPY 2 parallel channel zones broken (Nikita FX)

FX:GBPJPY   British Pound / Japanese Yen
120 2 1
GBP/JPY             had already achieved its breakdown with 2 parallel channel bottoms.
1st one is Purple channel zone.
2nd one is Green channel zone.

Since 116.82, major-5 waves already topped out at 180.69.
Since 180.69, wave-3 bottom had already met at 168.00. Since then wave-4 is
going on which will retrace Fib.38.2% to 172.86. And then wave-5 is coming down
to the Black Wolfe Line (162.75 in the end of Nov.)

Nikita FX (http://climbingfx.jugem.jp/)
If we look at the weekly chart, we will see that the currency pair broke the resistance line.
But!
Price is slowly coming back into the channel.
Recommendation buy long.
TP @ 177 515
Reply
The channel has not been broken. It's is just a wick that penetrates it, not the body of the candle.
Reply
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