Good Morning Traders! Upon analyzing GBPJPY I recognized a possible inverted H&S Pattern on the Daily Time-frame. Obviously that signals a possible bullish uproar. So, I started to search for more bullish confluences. On the 4 HR Time-frame I spotted an ABCD Fib Pattern. Price recently found support near $136.40. Following the close on that level, price immediately retraced. Engulfing more than half of the previous Bear candle. I predict price movement north of $137.30, following a close above $136.775. Overall i'm seeing way more Bullish scenarios at the moment. I will update you, if my bias changes.
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What is your prediction on
GJ?
Likes & Comments Are Appreciated!
What is your prediction on
GJ?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.