GBPJPY and the Different Patterns

In this pair, there is a possibility to open a long position.

When analyzing the pair on higher time-frames, using a 45-period exponential moving average and two simple moving averages of 70 and 95 periods, supported by a Parabolic SAR, an opportunity to enter a buy position is identified.

On the daily time-frame, there is a possibility that the pair is forming an ascending triangle continuation pattern, and it is from this pattern that the buy entry is anticipated.

Despite the points mentioned above, the trade was planned on the 5-minute time-frame through the creation of a rectangle, where the position size was studied. Subsequently, on the 1-hour and 4-hour time-frames, a triangle was outlined to confirm the upward movement.

However, it is important to emphasize that, despite the technical analysis presented, it is essential to monitor news, economic data, and other factors that may influence this pair, as this analysis is based exclusively on technical criteria.

The long position tool displayed on the chart serves only as additional support for the trade entry.