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GBP/JPY Trade Idea


Guest Balaji3003

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Guest Balaji3003

GBP/JPY is forming a head and shoulderlike pattern on the daily chart. It is clear that this market is currently swinging between support and resistance levels (i.e it is not currently in any clear trend in the daily chart). However, I believe there is a potential opportunity to capitalise on the move downwards to the next major support level. The rectangle on the 1 hr chart is where I believe the market is going to fill:

 

gbpjpy 1 hr.PNGgbpjpy daily.PNG

 

 

 

 

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