POTENTIAL BUY TRADE ON GBPJPY- BREAK AND RETEST OF TREND LINE

As can be seen from the chart, the price rejected the trend line with a perfect hammer candle upon breaking out. This has given rise to a potential buy trade on GBPJPY. Multiple time frame analysis has been conducted to ensure the trade has minimum drawdown before potentially flying to the up side.

*NOT FINANCIAL ADVICE, MERELY AN OPINION*

Trade fechado manualmente:

Due to change in market structure the trade has been closed. An updated idea has been posted.