chartwatchers
Long

GBPJPY - Possible wedge breakout

FX:GBPJPY   British Pound/Japanese Yen
291 5 18
I trade only EurUsd             , but a friend asked me regarding GBPJPY             ...
I see divergencies between the price and MACD + RSI .

I would closely watch the upper trendline . Today we just tagged it . If we close above the trendline (RED) price should rally to the 100 EMA .

If this time we cannot break the trendline we will come back to 150 and the next try will take out the trendline .
Comment: Trendline is broken.
Plenty of room to the upside.
Comment: JPY is correlating with gold for a long time now.
Sometmes JPY weakness signals the upcoming weakness of gold.
This is exactly happening now.

Investors are coming out of JPY and GOLD now and enetering into stocks.
Another reason not to short the stocks ....
Comment: Broken out earlier.
STill too many shorts....
THey are covering again.
Thank you very much for the analysis...
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this pair giving good pips...
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chartwatchers PRO Qasimshahzadgt
We've nicked it.
Are you in?
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dear maybe gbpjpy will do retracment .. now trand is up gbpjpy will go up too much.....you can tell how many % in fibo will do retrcement. ?
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Not in trade, but nice breakdown
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