Hi guys, the GBPJPY is building a massive wedge on the 4 hour. Trading inside this range is guesswork at best, but an eventual breakout should yield nice results. My guess would be short, but if you look at a daily chart and zoom way out, we recently broke above down trending resistance (well, back in November, 2016). We'll see. Now it's just patience.
If you have access to the market barometer, keep an eye longer term. This interesting channel will break soon and the break should give us an indication of which way the pair will go.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
If you have access to the market barometer, keep an eye longer term. This interesting channel will break soon and the break should give us an indication of which way the pair will go.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.