GBPJPY - Bullish Movement Ahead?
After some Swing Trading analysis, I have been looking at taking a Long position on GJ.
Using previous key points, Price recently returned to a bullish trendline after a positive move over the past several weeks. To back this up, price has broke above a previous resistance area.
I am now looking for a retest at the Resistance (Or new support) area as an entry, in hope price continues up in the long run.
One thing to consider is that there is a large WEEKLY bearish trendline, that price is approaching. Keep an eye on that level incase position traders influence the market too much.
Using previous key points, Price recently returned to a bullish trendline after a positive move over the past several weeks. To back this up, price has broke above a previous resistance area.
I am now looking for a retest at the Resistance (Or new support) area as an entry, in hope price continues up in the long run.
One thing to consider is that there is a large WEEKLY bearish trendline, that price is approaching. Keep an eye on that level incase position traders influence the market too much.
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