GBPJPY Long trade idea

9 de set. de 2019

With regards to how I look at the market, I have spotted a trade idea on GJ. the market was on a down trend and eventually found support slightly below the 128 area. Managed to push to the upside and into a consolidation area. Had a retest of the support zone and managed to stay above the 128 area breaking through the consolidation area around 130. The break of the consolidation area was my first signal, and the close of the next candle above the consolidation area with a big body bullish candle(representing momentum) was the signal confirmation of a bullish trend. The next target is around the 135 resistance zone. Considering there are GBP related figuers exepected to be released later on in the day, i believe that they will be the catalyst to push the market to the 135 area....