GBP/JPY Descending Channel could push price down

10 May 2020

Let's take a look at GBP/JPY on 4H chart. We can see that price has 'lived' in this channel for a quite some time. Of course except the time Bulls thought they have enough strength to give them self a breakout, however Bears took over control and brought price back in to descending channel. After that price went down to test Support and now we can see that price has now closing in to test the Resistance of the channel. This could be a nice opportunity for next week if the price would bounce of the resistance. It is too early to enter a trade right now, that's why we are going to be patient and what for clear signal that the price is rejected from Resistance.

We will update this idea if it is going to confirm or not so make sure that you are following our channel.

Where do you think will the price go ?
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11 May 2020

İşlem aktif

Let's enter this trade little early than usual. This will be little bit riskier that we like but it is great reward.
Entry - 132.807
TP1 - 131.481
TP2 - 130.596
SL - 133.207
DONT RISK ON THIS TRADE MORE THAN 2% OF YOUR CAPITAL.

14 May 2020

İşlem kapandı: hedefe ulaştı

TP2 hit