GBPJPY Triangle Breakout And Bullish Continuation
As we have mentioned in our previous GBPJPY Forecast and Trade idea, Dragon is ready to take off. But as we have mentioned before 149.700 must be broken. Looing at the smaller chart timeframes, the pair broken the triangle on the H1 Chart. This is a bullish continuation pattern.
Traders who want to use this opportunity may tenter a long trade at the market price 148.750 or wait for the potential retest of the broken triangle – 148.400 – targeting 149.400 , 149.700 and 150.400. Invalidation level of the formation is 147.850.
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GBPJPY Triangle Breakout: 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.