Outside Bar on GBP/JPY

Outside Bar on GBP/JPY

In the GBP/JPY currency pair, a correction has been observed after a significant rally since the beginning of the current year. The Price Action method signals a further drop in the GBP/JPY quotes. Near the "mirror" support level of 144.600, some classic Outside Bar patterns (H4 timeframe) have been formed, which indicate the bearish sentiment. We recommend paying attention to the current technical pattern.

If the price fixes below 144.600, it is necessary to consider selling GBP/JPY. The immediate goal for profit taking is a round level of 143.000. In the medium term, the trading instrument may reach the level of 142.000-141.000. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.03.22

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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