Hello Traders,
Hope you all are doing good!!
My analysis on GBPJPY is bullish biased, If you look at daily time frame and draw Fibonacci Retracement from swing low to swing high you can clearly see price tested at 0.62 fib level.
Now if you go to weekly time frame you can see this week was doji and previous week was huge bear candle so now I'm expecting bullish candle in next week because it can form a morning star in weekly time frame if it gonna be so.
Now open 1H time frame and look at that 1H rejection candle at 0.62 fib level drawn on daily time frame which gives us a little strong indication of what the analysis is,
and that weekly doji is now consolidation in 1H time frame, there are key zones also at 0.62 fib level in daily which makes it area of confluence.
NOTE : COMMENT DOWN BELOW IF YOU NEED DIFFERENT TIME FRAME CHARTS.
Disclaimer : Don't blindly follow anyone's analysis, research on your own then trade.
I hope you like my analysis, if you do hit that thumbs up and follow me for more!
Thank YOU!!
Hope you all are doing good!!
My analysis on GBPJPY is bullish biased, If you look at daily time frame and draw Fibonacci Retracement from swing low to swing high you can clearly see price tested at 0.62 fib level.
Now if you go to weekly time frame you can see this week was doji and previous week was huge bear candle so now I'm expecting bullish candle in next week because it can form a morning star in weekly time frame if it gonna be so.
Now open 1H time frame and look at that 1H rejection candle at 0.62 fib level drawn on daily time frame which gives us a little strong indication of what the analysis is,
and that weekly doji is now consolidation in 1H time frame, there are key zones also at 0.62 fib level in daily which makes it area of confluence.
NOTE : COMMENT DOWN BELOW IF YOU NEED DIFFERENT TIME FRAME CHARTS.
Disclaimer : Don't blindly follow anyone's analysis, research on your own then trade.
I hope you like my analysis, if you do hit that thumbs up and follow me for more!
Thank YOU!!