Good day Traders !! On this multi-timeframe analysis we will make a full breakdown of this pair.
Weekly : We have a rising wedge and we just broke the upper trendline and we should expect a continuation to the upside after the retest.
Daily : We broke the channel and we retested it without breaking it and then we should expect the continuation to the upside .
COT : Institution have been shorting JPY massively since they added closed more than 3000 long positions and added close to 8500 short position during the last Month and previous reports.
We also looking at a bullish GBP since institutions have been adding long on it during the previous weeks.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
Weekly : We have a rising wedge and we just broke the upper trendline and we should expect a continuation to the upside after the retest.
Daily : We broke the channel and we retested it without breaking it and then we should expect the continuation to the upside .
COT : Institution have been shorting JPY massively since they added closed more than 3000 long positions and added close to 8500 short position during the last Month and previous reports.
We also looking at a bullish GBP since institutions have been adding long on it during the previous weeks.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
