GBP/JPY Analysis BUY
Currently observing a potential bullish reversal on GBP/JPY. After a recent downtrend, the pair seems to be approaching key Fibonacci levels that could act as support zones for a bullish rebound. The recent price action shows a descending wedge formation, often indicative of an impending breakout.
Key support levels are noted around the 38.2% and 50% Fibonacci retracement zones, which align with previous structural support levels. If the price manages to hold above these areas, we could anticipate a bullish impulse towards the 197.750 - 198.500 zone.
I've also identified a potential double-bottom pattern in this area, suggesting increased buyer interest. A break above the 198.080 resistance could lead to further upside movement, with targets around the 198.903 and possibly beyond.
Monitoring for a breakout confirmation before entering a long position. Stay tuned for updates!
Key support levels are noted around the 38.2% and 50% Fibonacci retracement zones, which align with previous structural support levels. If the price manages to hold above these areas, we could anticipate a bullish impulse towards the 197.750 - 198.500 zone.
I've also identified a potential double-bottom pattern in this area, suggesting increased buyer interest. A break above the 198.080 resistance could lead to further upside movement, with targets around the 198.903 and possibly beyond.
Monitoring for a breakout confirmation before entering a long position. Stay tuned for updates!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.