GBPJPY will likely rise again

5 sept. 2021

Although the daily chart is under pressure near the downward trend line, there is a double bottom pattern below, and short-term support is obvious. It is recommended not to rush to establish a short position. If the price remains above 150, it is recommended to establish a long position

5 sept. 2021

Note

The weekly chart seems to have a five-wave rising structure. If it is not, it may form a double top decline after the breakout fails.

It can be seen from the monthly chart that although it has been in a downward channel for a long time, it has been trying to break through. After breaking through in May this year, it fell back. At present, there is no obvious top pattern in the large and small cycles. There is a chance that point B on the left will be broken,If price breaks through the 153~156 area again, this probability will increase.