GBP/JPY does not seem to have the ability to push higher up and it's very possible that it may continue it's bearish trend further low as soon as the current support breaks.
As always, invest after your own analysis and money manage properly!
Let me know what you think/your opinion in the comments.
Happy trading!
As always, invest after your own analysis and money manage properly!
Let me know what you think/your opinion in the comments.
Happy trading!
Comment:
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Trade closed: target reached:
Position was closed at 147.95 as it was not sure whether it could break the support.
Comment:
GBP/JPY still hasn't found it's support and it may go further below if it breaks it's current support. Until it finds a strong support, it won't enter into a reversal.
I say so, so that you may look at the charts and understand the pattern for future use of your own and be able to determine whether it fits your analysis or not.
When you do so, then you learn and gain more experience, rather than simply investing because someone else put an idea. You don't want to be independant on any one, but rather learn from them while making profits with them.
Never trade with emotions, stay positive, and keep a look out for the long term goals! :)
Wish you all the best!