A Cross at the Horizontal

Good Morning Dynamic Traders!

Take a second look at the GBPJPY cross this morning!

After a lengthy down trend, price has been retracing since the New Year.

The weekly chart below displays its current resting point at a long term horizontal; once a support , now switching to a fortified resistance.

Accompanied by the figure and on chart indicators, price promises a bubbling bounty awaiting an eruption!

A closer look at a smaller time frame may furnish further clues.


GBPJPY Weekly Chart Advanced Get

Below is the daily chart for the same.

Mark the 123,886 formation, comfortably complying with our mentors' text book rules.

Dynamic Traders keen to cogitate this barter, must first determine their trading style.

The trend line on display may offer an entry opportunity for a semi-aggressive stance, but given the nature of recent market movement, a conservative position may also be pondered.

Heed the value index within view, which has behaved magnetically many a time before and indeed the news items presently awaiting release!

Diligent use of filters and ESLT is highly recommended!


GBPJPY daily chart Advanced Get

Attentive Trading!

Saba Jackson