CCI AND %R INDICATE A POTENTIAL SELL+ POSSIBLE CUP AND HANDLE
This is my prediction for GBP/JPY on Daily time frame.
The next candle can see the CCI and %R indicators going back to the range after being overbought wich indicates a sell opportunity. If it opens, makes a wick up and breaks the low of this candle don't hesitate to take it. The target being a previous support/resistance level.
On the other hand, the previous chart shows a "cup" formed and combining it with the previous sell we might see a cup and handle pattern forming. The target being a support/resistance level from July 10th 2014 and Jan 29th 2016.
It might take a couple days to have a clear picture so stay updated!
Feel free to comment your thoughts and ask your questions in the comments, I will be really happy to help!
The next candle can see the CCI and %R indicators going back to the range after being overbought wich indicates a sell opportunity. If it opens, makes a wick up and breaks the low of this candle don't hesitate to take it. The target being a previous support/resistance level.
On the other hand, the previous chart shows a "cup" formed and combining it with the previous sell we might see a cup and handle pattern forming. The target being a support/resistance level from July 10th 2014 and Jan 29th 2016.
It might take a couple days to have a clear picture so stay updated!
Feel free to comment your thoughts and ask your questions in the comments, I will be really happy to help!