GBPJPY - Daily Time Frame
This zone is very interesting. Price on Friday closed 134.678 +0.05%
The trend itself has been in a long downtrend and no major sign of reversal.
In June this year you can see and bearish flag with a continue drop to the down side.
Depending on how Monday daily candle closes, this could potentially give us a nice pullback to ride a few pips of 130+.
If it breaks my trendline and the fib 61.8% this could go to the 50%, and then drop to my zone area below and a lovely ride down.
A great one to keep an eye on and potentially some nice pips!
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
This zone is very interesting. Price on Friday closed 134.678 +0.05%
The trend itself has been in a long downtrend and no major sign of reversal.
In June this year you can see and bearish flag with a continue drop to the down side.
Depending on how Monday daily candle closes, this could potentially give us a nice pullback to ride a few pips of 130+.
If it breaks my trendline and the fib 61.8% this could go to the 50%, and then drop to my zone area below and a lovely ride down.
A great one to keep an eye on and potentially some nice pips!
* This profile is for educational purposes ONLY!
* The trade idea given is my own perspective of the Forex market and by no means require action!
* Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!