So as you can see the chart GBPJPY is in the parallel line for now even though there was very strong dip.
What we can say about this is that,Be careful when you short and Personally i will start shorting after 143.259line got broken down.
BUT for now i am looking more forward about making long position after the break out of 145.00 clearly.
145.00 line is very...
As you can see the price has been going down rapidly since last week from the point where 128.00,FIBO level of 61.8 and 200MA meets up.
We can assume that It is looking like first wave of Bearish move but at the same time we can doubt it since the price has been rebounded at 124.00.
It is in Range for now but we can assume that it is drawing H&S as the...
So as the bull trend going on.
I assume that monday will be some dips to go up more and next target is 149.500.
make sure we buy cheap and sell high.
In case the H&S form,It can be turning point since 148.00 is strong line.
So as you can see it is moving along with the parallel line which indicates the downtrend.
as the price move up to touch the upper trendline i believe it is time to short but when the price breaks out it is turning into bullish.
So as you guys can see,the parallel line is present in USDJPY(greenline)
Last Friday the line was broke down but i'm assuming that once the price goes back in this parallel line.You can tell that it is bullish again.
personally if it is bullish i will buy after the price break out 110.654 till 111.00