GBPJPY gunning for 166.76
Updated
GBPJPY has failed to hold below 164.38 which failed my bearish conditions and has changed my view on the price movement.
GBPJPY has been bullish for the past 1 week and I think it is consolidating so it can move higher and at this point, I am bullish biased on this pair and would recommend everyone look out for buying opportunities at 164.00 - 163.70 region.
👉 Price is above the 200EMA which clearly means we are still bullish
👉 Price has broken multiple resistance/supply/downward trendlines over the past couple of days
👉 Price is in a 5 waves progression and I believe wave 5 is currently unfolding, which puts my first target at 166.76.
I would recommend everyone to buy the dip, and as long as 163.44 holds uptrend is not over yet.
I would love to hear your views concerning GBPJPY. Please like if you agree and follow for more updates ❕❕❕
GBPJPY has been bullish for the past 1 week and I think it is consolidating so it can move higher and at this point, I am bullish biased on this pair and would recommend everyone look out for buying opportunities at 164.00 - 163.70 region.
👉 Price is above the 200EMA which clearly means we are still bullish
👉 Price has broken multiple resistance/supply/downward trendlines over the past couple of days
👉 Price is in a 5 waves progression and I believe wave 5 is currently unfolding, which puts my first target at 166.76.
I would recommend everyone to buy the dip, and as long as 163.44 holds uptrend is not over yet.
I would love to hear your views concerning GBPJPY. Please like if you agree and follow for more updates ❕❕❕
Trade closed manually
I would suggest closing the position now and wait for a better entry
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