Upward breakout towards new GBP peaks likely

FX:GBPJPY   British Pound / Japanese Yen
20 0 1
Although candle analysis indicates market consolidation towards a potential top, price action indicates a donchian channel breakout in the next 5 trading sessions. The SMI             indicates market indecision rather than consolidation, following a strong buy a signal 2/03, it seems that price action is likely to continue higher if it breaks the 172.00 reisitance point.
There is a possibility that countertrend trading will create whipsaw, but a increasing trend of price support indicates bullish sentiment. Should the market break through this line (sloped, indicated in green), and penetrate the donchian channel at 164.00, a short down trend is expected before the next major upward move.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out