GBPJPY Technical Overview: When to buy?
Another request comes from Dragon addicts.
Our last call was short. Dragon completed a Bullish Gartley Pattern on the H1 Chart and made 50 pips upside move.
141.800 support worked well. Technical Indicators are still at the bearish territory on the H4 Chart. There are a few confirmations of the bullish continuation. We will look for the breakout of the orange trendline to enter a long trade.
We need to see firm H4 closings above 142.560. This will be the initial sign of the Long entry. Breakout of 142.960 will confirm the trend reversal on the smaller charts. The target of the pair will be 145.200.
We will send the entry notification of our midterm GBPJY trade as soon as we get the confirmation on the charts.
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DISCLAIMER: This is a technical analysis study, not an 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.