untpolevault21

possible huge long daily gbp/jpy

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OANDA:GBPJPY   英鎊 / 日圓
bullish divergence on macd but weight for crossover of macd MA's, rsi going into over sold and confirming reversal, exchange rate bounced off the bottom support of the long term ascending channel and looking to continue, once the chikov span(lagging line) crosses through exchange rate in bullish direction from bottom up and the rate surpasses the cloud look for entry also last key thing to check is theres a very strong horizontal resistance just above current price that was formed by previous highs, make sure price breaks through this resistance before going long, the horizontal resistance line may be hard to see under the Ichimoku Kinko Hyo but make sure you find it and respect it targets will be massive and far away and stops will be below the channel or whatever you would use for Ichimoku Kinko Hyo

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