GBPJPY: Dragon targets higher
Dragon has different fundamentals than GBPUSD. The dollar is much stronger then JPY. GBPJPY offers us bigger profit opportunity than GBPUSD.
The pair is testing the Fibo 38.20% at 151.520. Tomorrow or December, with the rate hike of BoE, the real rally will start. 159.500 and 168.000 will be the targets. Buy using the pullbacks as buying opportunities we have a chance to generate 4000-5000 pips during this rally.
On the Daily chart, Cup with Handle formation has been completed. Target is 450 pips. So it confirms the Fibonacci 161.80% at 155.600.
The pair is testing the Fibo 38.20% at 151.520. Tomorrow or December, with the rate hike of BoE, the real rally will start. 159.500 and 168.000 will be the targets. Buy using the pullbacks as buying opportunities we have a chance to generate 4000-5000 pips during this rally.
On the Daily chart, Cup with Handle formation has been completed. Target is 450 pips. So it confirms the Fibonacci 161.80% at 155.600.
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