The GBPJPY pair is currently on a 3-week correction, the strongest and longest since the one that ended on the week of December 11 2023. That was also the last time the pair closed a 1W candle below the 1D MA50 (red trend-line).
As the long-term pattern is a 22-month Channel Up, every 1W candle closing below the 1D MA50 is a buy opportunity. The last Higher High was priced on the 1.5 Fibonacci extension from the first 1W closing below the 1D MA50. As a result we treat this as a new long-term buy opportunity with our Target at 210.000.
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As the long-term pattern is a 22-month Channel Up, every 1W candle closing below the 1D MA50 is a buy opportunity. The last Higher High was priced on the 1.5 Fibonacci extension from the first 1W closing below the 1D MA50. As a result we treat this as a new long-term buy opportunity with our Target at 210.000.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.