GBPJPY Failing Wedge breakout
GBPJPY Price Action after double top at (135.65 and 135.75) break down support white trend line. Closed bellow EMA 21 periods line. Downtrend move up to 130.431 between green and red support and resistance trend line. GBPJPY was farmed failing wedge pattern which break up at 138.90 with huge volume spike.
Volume bullish confirm trend reversal. GBPJPY closed above EMA 21,50,100 and 200 periods.
GBPJPY tested resistance at 137.80 price level.
Indicators: MACD bullish crossover above zero line. RSI above 75 points . Overbought level. Bullish trend reversal sign.
Patterns: Double Top rejection, Failing Wedge breakout up.
Potential correction from overbought level. Potential retest 135.750 price level.
S/R: Support at 133.35, Resistance at 137.90.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
Volume bullish confirm trend reversal. GBPJPY closed above EMA 21,50,100 and 200 periods.
GBPJPY tested resistance at 137.80 price level.
Indicators: MACD bullish crossover above zero line. RSI above 75 points . Overbought level. Bullish trend reversal sign.
Patterns: Double Top rejection, Failing Wedge breakout up.
Potential correction from overbought level. Potential retest 135.750 price level.
S/R: Support at 133.35, Resistance at 137.90.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
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