GBPJPY has sunk for nearly 4 years.
Now a double bottom pattern is forming in the monthly chart, which may make the price cease drop and move upward.
Meanwhile, a good demand zone, 124.8-126.9, formed 3 years ago, will work as well.
So it is good to buy at this zone when bullish signals appear.
Entry: 124.8-128
SL: below 124
TP1: 154.9
TP2: 185.3
Attentions:
1.This is a long-term trade plan that may take several years because it is in the monthly chart, so more patience must be needed.
2.If the price break down the demand zone, don't sell any more, just quit, wait and see, because there are more supports below.
3.The Brexit may play a bad role in Pound, so pay more attentions to this big event this year.
4.The final target of this plan is the D point of the bearish Bat pattern, 185.3-194.7.
Now a double bottom pattern is forming in the monthly chart, which may make the price cease drop and move upward.
Meanwhile, a good demand zone, 124.8-126.9, formed 3 years ago, will work as well.
So it is good to buy at this zone when bullish signals appear.
Entry: 124.8-128
SL: below 124
TP1: 154.9
TP2: 185.3
Attentions:
1.This is a long-term trade plan that may take several years because it is in the monthly chart, so more patience must be needed.
2.If the price break down the demand zone, don't sell any more, just quit, wait and see, because there are more supports below.
3.The Brexit may play a bad role in Pound, so pay more attentions to this big event this year.
4.The final target of this plan is the D point of the bearish Bat pattern, 185.3-194.7.
