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

View trading ideas by the Price Action method.

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.

GET FREE ANALYTICS

* required fields