GBPJPY 134.169 + 0.11% LONG IDEA

Good Day Everyone

Here's a look at the GBPJPY pair on multiple time-frames

MONTHLY

> Starting on the monthly we are still respecting the descending triangle pattern we saw a rejection on the top of this structure pushed down to the base of the structure and now we see a build up with the bulls pushing the pair up, overall sentiment on the monthly is bullish.

WEEKLY

> As we move down to the weekly the sentiment is still the same as we see a build up with the bulls strength on close of the week. still respecting the descending channel looking for gains on the pair from a weekly perspective.

DAILY

> Moving to the daily the pair respecting the Fibonacci retracement structure recently we just saw a rejection on the 38.2% fib retracement level pushed up to retest the 50 % fib level retracement, looking for a push up to level 61.8% Fibonacci level even though its a stretch but lets see how it goes

overall the sentiment is that we are bullish on the pair so looking for long on the pair.

Good luck and happy trading everyone

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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE

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註釋

ON THE MONTHLY