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Proszi
May 26, 2020 10:57 AM

GBPJPY Long on Retracement Long

British Pound/Japanese YenFXCM

Description

GBPJPY just saw a solid rejection allowing us to confirm the wedge formation. We are expecting a retracement to retest the 0.5 level of Fibonacci. Furthermore, we have the lower ascending trendling corresponding with the previous major resistance zone outlined in green (now acting as support). Perfect zone of confluence for a long setup, just waiting for the proper pullback to confirm all this.

Comment

Approaching Entry Level
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