quantguy
Long

JPYGBP Breakout Pattern

FX_IDC:JPYGBP   YEN / POUND STERLING
As we can see from the chart, there's been quite a bit of consolidation over the past few days, in the short term, and since mid September in general. The big rally at the end of August constitutes the poll of a (rough) flag pattern. Note further the slightly higher lows, also indicative of an impending breakout.

Next, we see that the Ichimoku cloud illustrates tremendous support at the current level, whereas there's a relative vacuum from above. Further, notice the three bar pullback from the bullish rally on 10/27, suggesting this asset might be preparing for another rally.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out