Posted on Leave a comment

GBP JPY analysis

The 1 hour tf of the GBP JPY is presented in this analysis with price action from ~August 14, 2018 to current date.

GBP JPY analysis, GBPJPY price chart

Price action closed below the 1 hour timeframe main uptrend line on October 14, 2018 indicating a possible termination of the uptrend.

Subsequent price action after the bullish move is captured using a downtrend price channel, which ideally implies further bearish action in the GBP JPY.

Conservative entry into a trade involves waiting for the bear channel to give way, and using its width to estimate the minimum projection of price action.

Interested in Bitcoin analysis (BTCUSD)? Check out our previous work here. Moreover,  XRP price analysis (Ripple) can be found here.

Join our premium research and analysis group for more information GBP JPY analysis, predictions and forecast, other Foreign Exchange (FX) pairs and cryptocurrencies.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.