on the weekly chart for GBP/JPY
we can see a clear bullish trend line
represented on the daily chart
as the blue trend line
showing 4 consecutive bounces of this trend, after the 4th bounce of this weekly trend we can see price rising and closing above a daily bearish trend line
as well as setting in play a new daily bullish trend line
. however once again price has risen to this key historical resistance level
at 187.462 (as seen as the yellow line) we must see GBP/JPY
close above this level on the daily chart
in order to execute this trade, if we successfully see the break and close above this key resistance our next target in sight will be the 191.931 - 193.757 target zone as illustrated on the graph as the green box.
- we will not be executing this trade unless we see a clear break and close of the resistance.
- this analyse is to be used alongside your own analyse for comparison, this is not a signal and this trade is not guaranteed profit.