GBPJPY just saw a solid rejection allowing us to confirm the wedge formation. We are expecting a retracement to retest the 0.5 level of Fibonacci. Furthermore, we have the lower ascending trendling corresponding with the previous major resistance zone outlined in green (now acting as support). Perfect zone of confluence for a long setup, just waiting for the proper pullback to confirm all this.
Note
Approaching Entry Level
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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.