GBPJPY analysis - I don't like what I see....

daily chart - 6 am Malaysia

A bullish hammer has formed on the daily chart. Meanwhile, three white soldiers are already marching on the h4 chart.

On larger overview, there is a possibility that an inverse head and shoulder pattern is in play. The key level to be watched closely is 131.00 area.

Should the price breaks 131.00 resistance zone, then the bears are in danger. And the trend reversal to UPTREND should begin with the penetration of the neckline at 136.00-137.00 zone. :-ss
3.30 pm - 131.00 penetrated...
the bulls are in control...
5.20 pm - price is at 132.65
290 pips upward move from today open


Post a Comment

You are welcome to post comments. However, please do not use Anonymous as your ID. At least, put in your initials for easy reference in further conversations.