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.
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
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