An overview of what I see on the Pound / Yen chart. Having a bearish bias since it broke the 1H trendline. Since I trade trendline breakouts, hoping to see a break of trendline to the downside on the H4 / 1D timeframe. Will keep updating this chart.
Thank you for watching!
Commento
⋅
Quick update. The pair made a gap on Monday open after last week's close below the trendline.
For entry, I would like to see either a retest of the trendline it broke last week or a break to the bigger trendline below.
Your analysis then pictures a bearish GBP Rate Decision outcome.
frankkafari
⋅
YOU ARE GOOD BUT ALSO , I CAN SEE PRICE MOVING POSITIVELY WITH GBPUSD AND AS YOU ALREADY KNOW, THEY GBPUSD AND GBPJPY ARE POSITIVELY CORRELATED
PipskeetFX
⋅
@frankkafari, Thank you for the feedback, but frankly I have a short trade already in profit in GBPUSD using the same strategy I always use, trendline breakouts. We will see what happens friend because even the right can be wrong :)