financialflagship

GBP/JPY – Week 24 – Waiting for the breakout

Long
FX:GBPJPY   British Pound / Japanese Yen
As we look at the 4h structure for this pair the price action structure is making a bigger consolidation that prepares the next move to the upside. We think the higher probability move for pound yen is to at least break the top. This doesn’t mean that in this consolidation we can’t have a new low, but we think the support at 153.500 should hold and if the down move happens, in this area (support) we should look for reversals.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Comment: We are close to support area. Let's see the reaction. If it's consolidating in the area it will continue to the downside. If not, we will have a reversal.

📢Check out our:

🌍Website: https://www.finflagship.com/
📹YouTube: https://www.youtube.com/c/FinancialFlagship

❗❗❗ Opening soon: Worldwide trading community. Check out our website and subscribe to our newsletter for more details.

Comments

Good idea, agree!
Reply
@AtlasTrades, thanks bro! 🔥
Reply
keep them coming dear Alex;)
Reply
financialflagship TheSignalyst
@TheSignalyst, 🔥🔥
Reply
Clean analysis bud!
Reply
financialflagship caldooninvestment
@caldooninvestment, thanks mate!
Reply
Perfect
Reply
@tamergaad, 🔥
Reply
Thank you for the detailed view, mate ;)
Reply
financialflagship StevesTradingV
@StevesTradingV, thanks bro!
Reply