GBPJPY has been consolidating for some time now, create a near perfect channel. I would like to see price come down and touch the bottom channel once more before closing above the line at 139.40, only then will i be looking at my first long on this pair.
As I’m siding toward upside movement as the overall bias, i'll be looking for the upper channel line to be broken and hopefully take a second long from there, riding the pair up to 142.00 and beyond.
On the other hand, a significant close below the support line give us the indication that the pair will be seeing bigger downside movement. Lets see how the move plays out.
As I’m siding toward upside movement as the overall bias, i'll be looking for the upper channel line to be broken and hopefully take a second long from there, riding the pair up to 142.00 and beyond.
On the other hand, a significant close below the support line give us the indication that the pair will be seeing bigger downside movement. Lets see how the move plays out.