Triangle on GBP/JPY

Pennant on EUR/GBP

Yesterday, the GBP/JPY currency pair held the local resistance at 146.900, which caused a correction movement. At the moment, the classical figure of technical analysis, Triangle, (M15 timeframe) has appeared on the market, which quite often acts as a continuation of the current trend. It is necessary to pay attention to this situation.

If the price fixes below the local support of 146.250, we recommend you to look for entry points to the market to open short positions. The target movement level is 145.500. When following a position, you should use a trailing stop.

by JustForex, 2017.07.04

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more
How to Become a Forex Trader in Indonesia
Starting trading currencies in Indonesia is as easy as in the rest of the world. All you need to do is spend a few minutes of your time on opening a trading account and going through the verification process. However, this is hardly enough to start making money, let alone make a living out of forex trading. To learn about the best ways to trade currency in Indonesia, read this article.
Read more
Stop and Limit Orders in Forex
There are many gainful opportunities for traders in the forex market, but no one is immune to losses. That’s the reason why traders should employ an efficient trading strategy where both stop and limit orders go hand in hand with other essential aspects of the strategy.
Read more