Hello traders, in today's trading session my team and I are monitoring GBPJPY for a potential trade setup.
At the moment GBPJPY has been very bullish, retesting the high on the weekly timeframe - which doubles as a minor buyers territory OR money spot.
Pip Regards, DayBot6.
Price conveyed a strong downtrend, then it created a pennant, which is a continuation pattern.
And if you look at a greater picture, you'd see that price created lower lows, and it was far from reaching the previous high.
SL is crucial for this trade. Since it's a pre-market trade, the pips spread can widen at the start of the trading week. USDJPY's spread is...