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fxtradearmy505

GBPJPY Weekly Market Analysis. Inverted Cup & Handle Pattern.

Short
British Pound / Japanese Yen (FX:GBPJPY)  
fxtradearmy505  
FX:GBPJPY   British Pound / Japanese Yen
Chart Patterns Beyond Technical Analysis GBPJPY weeklymarketsanalysis dailychart dailyanalysis short
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chartpattern beyondta gbpjpy weeklymarketsanalysis dailychart dailyanalysis short
GBPJPY formed a beautiful Inverted Cup & Handle pattern along with a Bearish Flag pattern in 1 day time frame. After that price broke both the patterns with high Bearish momentum and is now on its retrenchment move and almost retesting 0.61 or 0.78 on the fib levels. Thus indicating the price to go short in the long run. Draw an uptrend line in a lower 4hr time frame and wait to enter when price breaks below that trend line on a lower time frame. That would make your entry much more safe. GBPJPY
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