GBPJPY Technical Overview and Trade Idea
Chart Time Frame : H4
Dragon closed above the EMA 50 of the H4 chart timeframe and SMA 5 of the daily chart. This indicates a starting of a bullish trend.
GBPJPY is trading at 146.600 as of writing. MM 4/8 Ultimate support / Trend Reversal of H4 Chart is located at 146.800. A Break above 146.800 will carry the price, 147.250, 147.600 and 148.400.
As seen in the chart, the pair is likely to test the trend line.
So our trade idea is :
TRADE : LONG
ENTRY: 146.600 ( Or close below 146.800 )
STOP: 145.000
TARGET 1: 147.200
TARGET 2: 148.200
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
Dragon closed above the EMA 50 of the H4 chart timeframe and SMA 5 of the daily chart. This indicates a starting of a bullish trend.
GBPJPY is trading at 146.600 as of writing. MM 4/8 Ultimate support / Trend Reversal of H4 Chart is located at 146.800. A Break above 146.800 will carry the price, 147.250, 147.600 and 148.400.
As seen in the chart, the pair is likely to test the trend line.
So our trade idea is :
TRADE : LONG
ENTRY: 146.600 ( Or close below 146.800 )
STOP: 145.000
TARGET 1: 147.200
TARGET 2: 148.200
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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