The_Forex_Path

GBPJPY BUY

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The_Forex_Path تم تحديثه   
FX:GBPJPY   جنيه إسترليني / ين ياباني
Hello traders.

GBPJPY has performed a quite bullish price action. But the market makers' game is usually trapping the retailers on Mondays and reverse the trend later during week. So, I am sceptical.
The pair definitely needs corrections and that is not only an opinion of mine.

It is overbought so many big players will close their profits pretty soon. However, it remains bullish in technical analysis and GBP is bouncing from the lows while JPY keeps loosing value.

Drawing Fib levels from the Swing Low to Swing High, based of the last 4H impulse move, I consider the below Fib retracement area as a great long opportunity.

163.585 - 166.057


Note: it is at a weekly Supply level but I see the potential to break it and aim for Multiyear highs.


good luck

أغلقت الصفقة: تم الوصول للهدف:
tp1 reached + 300 pips

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