GBPJPY – Week 9 – Up 50%, Down 50%

As we forecasted in our last analysis, GBPJPY made a down move on February 25th and it is now slowly crawling its way up to make a new top. Right now its consolidating in one of the support areas so, we expect at least one more push to the top. However, because of the sharp reversal at the 150.430 price, we can expect a down move that would at least reach the blue trendline marked on the chart once it hits a new high or right now before breaking it. We advise caution, this is not a very clear setup for any big direction move.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.