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GBPJPY - major reversal

Background: This analysis base on price action, trend line, support/resistance level and ascending triangle in weekly and daily charts. Let's see the charts below!
1. Weekly chart: Weekly chart shows ascending triangle in a up trend and the consolidation period just ended. A break the rising trend should be signal for reversal in Daily chart.
2. Daily chart: Ascending triangle has just break and we can see more downside of this pair. The next support level are 169.5; 168 and 164 and strong resis…
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Haynes6EU avatar

The pair test 169.5 support level and bounce slightly from there. I think we can see another symetric reversible semigroup

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This pair isn't going down as my forecast. This pair is neutral now!

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A break hasn't happened! Overall JPY still weak at least untill BOJ tighten the QE :D

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I still expect down movement!

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GBPJPY continuation trend after consolidation period

1. Weekly chart: I see the pair GBPJPY is in consolidation period and it will finish in coming weeks. The rising trend will continue? Price rebounce as hit the trend line. Quick rejection at 164 level, strong support at 167.6 level and range consolidation is narrow now. It should be prepare for rising trend continuation.
2. Daily chart: Rising triangle in the rising trend. So the trend should continue! We can see the pair pull back to trend line before rocket
3. GBPUSD can go up to 1.703, meanw…
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Haynes6EU avatar

The pair is standing at resistance area. I expect a small pull back before rocket to sky :D

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This pair is pulled back to the rising trend line. I expect price go up from there!

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This pair is accumulating for a big move. Major reversal, SELL on high is my strategy now.

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Sell pressure after ascending triangle consolidation in a up trend

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Wrong prediction :D Bears power behind the consolidation

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