TradingView
King_Gasa
Nov 3, 2017 5:47 PM

GBPJPY Long Term Trade Position Long

British Pound/Japanese YenFXCM

Description

- GBPJPY has currently broken the downtrend resisting Line, we are therefore hoping for a continuation in a bullish trend [Long Term].
- Long term resistance at price 147.537 was broken and retested, Long term downtrend resisting line was broken and retested [H4]
- A Bullish Pennant chart pattern is forming [H4].
-We are therefore still confirming that signs are showing a very strong bullish trend continuation.
- If price breaks out of the flag, we will wait for it to push up and break the resistance @152.672.
- Once this resistance is broken, we will consider going long and have our target @162.881, and our cut loss @147.710

More