GBPJPY Strong rally if the MA50 (1d) breaks.
GBPJPY is trading inside a Bullish Megaphone pattern with the price testing now for the 2nd time the MA50 (1d).
This test is coming only 3 days after the price hit the bottom of the Megaphone.
The previous bottom formations have been very similar to the current pattern.
Trading Plan:
1. Buy when the pair closes a (1d) candle above the MA50 (1d).
Targets:
1. 190.000 (Fibonacci 1.236 extension).
Tips:
1. The RSI (1d) has made a Double Bottom formation over the oversold level of 30.00.
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Notes:
Past trading plan:
This test is coming only 3 days after the price hit the bottom of the Megaphone.
The previous bottom formations have been very similar to the current pattern.
Trading Plan:
1. Buy when the pair closes a (1d) candle above the MA50 (1d).
Targets:
1. 190.000 (Fibonacci 1.236 extension).
Tips:
1. The RSI (1d) has made a Double Bottom formation over the oversold level of 30.00.
Please like, follow and comment!!
Notes:
Past trading plan:
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