2023 was a very strong year for GbpJpy, with the pair rising more than 3k pips, exceeding my target of 180 as explained in both my 17th of January 2022 and 20th of April 2022 long-term analysis.
Although the pair remains in an up trend, for a month now, GbpJpy has failed on 186, unable to make a new high, leaving long up-tailed weekly candles.
This suggests that a top could be in place and a much-needed correction could follow.
With this in mind, I will look to sell rallies for a medium-term trade with a 500 pips target.
A new high would negate my outlook.
My previous long-term analyses for GbpJpy:
Although the pair remains in an up trend, for a month now, GbpJpy has failed on 186, unable to make a new high, leaving long up-tailed weekly candles.
This suggests that a top could be in place and a much-needed correction could follow.
With this in mind, I will look to sell rallies for a medium-term trade with a 500 pips target.
A new high would negate my outlook.
My previous long-term analyses for GbpJpy:
🚀 Elevate your trades with a 20-year market veteran!
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
