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GBPJPY It’s coming home, Dragon is coming home

GBPJPY “It’s coming home, it’s coming home, Dragon is coming home”

Nowadays, you can hear this song in the streets of London :

It’s coming home,

It’s coming home, it’s coming

Football’s coming home

After England’s semi-final qualification – with one of the youngest team of their history, important political developments took place at the weekend in England.

Markets are pricing Soft Brexit positively.

We are reaching our targets one by one, we generated more than 400 pips in a week.

Technically: 

I SHS completed. Bullish crossover EMA 50/ EMA 100.  Price is above Daily EMA 50 as well.

In our latest analysis, we wrote  “Dragon wants to fly high. See you at 148.000″

148.000 – 148.200  is the critical resistance zone.

Technically, I predict bullish move to continue, however, as you will see on in the chart, we have a Bearish Cypher Harmonic Pattern completed at 147.500.

We may see a minor retracement at this level and price is likely to go up again.

A deeper retracement may take place at 148.200  – 148.200 regions.

However, we will be very careful to short the Dragon. Crude Oil and GBPJPY are the most difficult instruments to trade. And once the dragon takes off, no one can estimate the limits. As they say: ” Sky is the limit”

Conclusion: We still LONG on GBPJPY, our next target is 148.000.

We will publish our trade idea later for premium members.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

GBPJPY :  Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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