GBPJPY – Incoming down move
The cross has been moving in a weekly uptrend from March 2020. It has a big correction lasting from April to May 2020 and 2 sharp ones in June and September of 2020. As we can see from the chart, we are expecting a retracement to the blue trendline before going up and breaking the top again, touching the weekly resistance area. The bigger picture for this pair is down, so we are advising caution with the buy setups.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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