GBPJPY BOUNCING FROM MAJOR AREA AND 'INVERSE HEAD AND SHOULDERS
GBPJPY in a range between 153.00 -155.00 and bouncing off the local support
And it can be inferred from the chart, that the price has nicely bounced off the level of major support.
Experts on focus and looking forward for long movement and aiming for the area indicated on the chart which aligns with 61.8% Fibonacci level.
It looks like the price is losing the bearish momentum on GBPJPY .
Actually, the price is near the completion of an "Inverse Head & Shoulders" pattern.
With this, we can be at the beginning of a new short-term trend.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
And it can be inferred from the chart, that the price has nicely bounced off the level of major support.
Experts on focus and looking forward for long movement and aiming for the area indicated on the chart which aligns with 61.8% Fibonacci level.
It looks like the price is losing the bearish momentum on GBPJPY .
Actually, the price is near the completion of an "Inverse Head & Shoulders" pattern.
With this, we can be at the beginning of a new short-term trend.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.