TipTVFinance

GBP/JPY - more confident now about Inv. Head & Shoulder

FX:GBPJPY   British Pound / Japanese Yen
Following today's spike in GBP, I am now more confident about GBP/JPY             cross testing inverse head and shoulder neckline.

The first possibility was expressed here - GBP/JPY possible inverse head and shoulder by 15th/16th May

Pair's daily close above 158.49 (May 12 high) looks likely today and that opens doors for a ride towards neckline level seen around 162.30.

Hurdle at 161.41 (188.81-151.64) could stall the rally, although it is more likely to be taken out than not...given the falling prospects of Brexit.
Wait for a small retrace to buy or is still good to buy at current market price?
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small retrace looks likely...hourly RSI is overbought now
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m.pentaz TipTVFinance
Which level do you suggest? Just above May 12th high as mentioned before?
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That is perfect
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m.pentaz TipTVFinance
Ok, Thanks for your tips
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