GBPJPY → The bullish trend may continue for a long time. Why?

GBPJPY has been forming a bullish trend for 4 years. This trend may continue its growth as the national currency of Japan is not going to strengthen.

On W1 we see a clear trend within the global range. The target in the medium and long term could be 195.844. On H1 there is a beautiful price channel and flat. Within the flat price is trading between levels, earlier there was formed a capture of liquidity from the support at 188.83 (false breakout), which in this case formed a sufficient potential for further growth, as the key liquidity, which is now interested in the market, is located above 191.33.

Resistance levels: 190.08, 191.33
Support levels: 188.83, 187.96

In the near future we expect a breakthrough of resistance at 190.08 with further consolidation of the price above this area, which will form the potential for growth to the target

Regards R. Linda!

Trade active:

Consolidation

Trade closed: target reached

Comment:

The resistance is broken. The price is going higher