08 Nov GBPJPY Weekly Chart November 2019
GBPJPY Weekly Chart November 2019
Now we’re heading to the best forex markets in my opinion. Look at this chart already. This kind of sic-sac movement is the best thing there is for a forex trader.
We can see the 2 thick channel lines are representing the most hit resistance and the support.
The timing of this analysis on GBP/JPY is not the greatest although. We are in the middle of the chart at the moment, not so great position to be honest with you. At least the red trendline is there showing the resistance so it helps us out. I think that GBP/JPY will go towards the thick support line in between 135.843-137.649. I would go long on this one at 136.260 as the most recent bigger candlestick has had a kind of a big tail at the bottom there. That means that there is buying power in these levels so you should go with the mass (forex is pretty much automated market).