GBPJPY Wedge to Dictate Future Direction
With patterns like this, it’s usually best to let the market make the first move. Until the GBPJPY closes the day (New York 5 pm EST) below support or above resistance, we don’t have enough information to form a directional bias.
A daily close below wedge support would likely encounter buying pressure at 149.35 followed by 147.00 and 144.00. Alternatively, a close above wedge resistance would likely find selling pressure at the 156.00 handle.
Get the complete analysis here: or visit the GBPJPY story (below my bio) and swipe up.
On the weekly chart we can see price complete the Swing Low, also price has formed a bullish hammer. In addition price even met the 0.385 fib. On the Daily chart we can see price form a huge candlestick to the upside this candlestick engulfed 4 previous candlesticks.
On the 4 hour i am waiting for price to break above the trend line and key level. once broken i will enter for a long position. 👀🙊Will be updating on my story on a daily basis. ✔
Live life with no regrets.
✔️Let your loved ones know you love them
You're gonna have to take risks that your family won't understand or approve of.
✔️Follow your dream.
So often, we are so busy trying to live up to the expectations of others that we do not allow ourselves to follow our own dream. Pursue the longings of your heart.
✔️Trust your gut instincts.
Your intuition is your best source of guidance. Whereas rational decisions come from your thinking mind only, your gut is that “all-knowing” part of you that if paid close attention to and acted on, will never lead you astray.
✔️Keep your work at work.
✔️Staying within our comfort zone may be safe, but it is impossible to achieve greatness by living cautiously.
✔️Take life less seriously.
✔️JUST LIVE LIFE! There’s no written manual on how to live it!
USDJPY adding to the analysis I posted on UJ ,please go back to my previous post on UJ so we can be on the same page . We finally broke the daily support and now there a falling wedge which I'm looking for a break of the counter trendline for short .