GBP/JPY Long Term Relevant Zones
Good morning traders, today we bring you our weekly and daily analysis in the GBP/JPY pair, since this instrument has had a great movement during these last months, and it seems important to show you the relevant areas to take into account in case you have bullish positions.
🔸First of all, to talk a bit about the context, we see that this big bullish momentum happens after the price generates a double bottom with the previous low, and the subsequent break of the Descending Trendline.
🔸Since this momentum started, there has been no significant retracement.
🔸The next zone that we must take into account is the resistance zone at 155.000, which, as we can see, the last time the price faced that level, it started a pronounced bearish movement.
🔸Here, below, we leave our daily chart, with a Resistance zone of a lower degree than the weekly one, but it does not hurt to take it into account.
🔸First of all, to talk a bit about the context, we see that this big bullish momentum happens after the price generates a double bottom with the previous low, and the subsequent break of the Descending Trendline.
🔸Since this momentum started, there has been no significant retracement.
🔸The next zone that we must take into account is the resistance zone at 155.000, which, as we can see, the last time the price faced that level, it started a pronounced bearish movement.
🔸Here, below, we leave our daily chart, with a Resistance zone of a lower degree than the weekly one, but it does not hurt to take it into account.
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