The GBPJPY pair has been trading within a 9-month Channel Up and following the August 03 bottom on the 1W MA50 (red trend-line), it has started its new Bullish Leg. That bottom also took place on an oversold 1D RSI, a strong technical Buy Signal.
If the price breaks above the 1D MA50 (blue trend-line), which is currently acting as Resistance, expect a continuation of the uptrend towards at least 220.500 in an attempt to price a Higher High.
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If the price breaks above the 1D MA50 (blue trend-line), which is currently acting as Resistance, expect a continuation of the uptrend towards at least 220.500 in an attempt to price a Higher High.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.