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GBPJPY Inverse Head And Shoulders Pattern and Long Opportunity Update: TP3 Reached

GBPJPY Inverse Head And Shoulders Pattern and Long Opportunity

Dragon is printing an Inverse Head And Shoulders pattern on the H4 Chart. The Breakout of the neckline will trigger the bullish move. Latest political developments is being priced positively by the markets.

Our Trade Setup:

Trade: Long

Time Frame: H4

Trade Period: Intraday  / Midterm

Estimated completion time: 2- 10 H4 CANDLESTICK

The trend in the Timeframe: Bullish

The trend in the Daily Chart: Neutral

Trade Based On : Inverse Head and Shoulders Pattern

The accuracy of the pattern: 93 %

Recommended Lot Size: 0.10 at 10K

Area of the Entry: 143.040

Stop Loss: Below 142.800

Target 1: 143.350 / Reached

Target 2: 143.750 / Reached 

Target 3: 144.100 /rEached 

Our next target is 144.650. And we predict a retracement at 144.700

See attached idea: GBPJPY Bearish Shark

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

GBPJPY: Information on these pages contains forward-looking statements that involve 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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