Forex Technical Outlook prediction
There are opportunities that come once a decades
Is this one of them ...
My trading experience forex market spans more than 20 years
have already seen a thing or two in the markets, experienced crazy moves.
I will not forget the movements of JPY crosses in the years 2012-2014
One of them was the GBP/JPY
This deal accompanied by almost 4000 pips!
A taste from the post was written that time: GBP/JPY TECHNICAL ANALYSIS
I think friends, that we are now facing an interesting situation again,
If this is indeed the case, then expect a large and rewarding movement in this cross, possible targets for archives 1600-1800 pips!
Just for understanding, this movement is more than 10% in foreign exchange markets, which is considered a lot in terms of the foreign exchange market, based on leveraged orders and transactions.
|GBP /JPY analysis|
GBPJPY pair trading above its pivot point 147.30.
It is likely to trade in a higher range as far as it remains above its pivot point.
As far as the price is above its pivot point, a long position is recommended with the first target at 169 and the second target at 171
Price actions from 120 are viewed as a consolidation pattern with a rebound from 194 as consolidation.
Rise from 154.10 could extend beyond 169/171.
short Resistance levels: 153.60-154.20, a key level at 146-147
an alternative scenario, if the price moves below its pivot point -146, short positions are recommended with the first target at 141, A breach of this target will push the pair further downwards and one may expect the second target 138.
|GBP / JPY outlook|
And for dessert a historical snapshot for GBP / JPY
This review does not include any document and/or file attached to it as advice or recommendation to buy/sell securities and/or other advice