The GBPJPY pair has been trading within a Channel Up since the April 09 2025 Low and this week is seen pulling back from its top (Higher Highs trend-line) to the 1D MA50 (blue trend-line), which is the first Support of this pattern.
With the previous Bearish Leg pulling back by -3.04% and touching the 1D MA100 (green trend-line) before bottoming, we seek for the price to repeat that in order to turn into a long-term buy opportunity again. Even the 1D RSI has some breathing room before it bottoms.
Once that condition is met, we expect the new Bullish Leg to target 220.000 at least (Fib extension 1.786).
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With the previous Bearish Leg pulling back by -3.04% and touching the 1D MA100 (green trend-line) before bottoming, we seek for the price to repeat that in order to turn into a long-term buy opportunity again. Even the 1D RSI has some breathing room before it bottoms.
Once that condition is met, we expect the new Bullish Leg to target 220.000 at least (Fib extension 1.786).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.