GBPJPY Outlook (18~22 Feb 2019)
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Pair: GBPJPY
Weekly : Bearish - Corrective Wave
Daily: Bullish - Corrective Wave
H4 : Bearish - Corrective wave
Outlook: Weekly and Daily TF showing the opposite direction of trend. On daily chart, GBPJPY corrective wave may complete once it exit the down trend channel. On H4 TF, GBPJPY moves in down trend channel. Currently making correction of down trend.
Trading Plan: As weekly and daily TF showing confusing move. Just look at H4 TF. Wait for breakdown and closed below 141.90 to enter short and target maybe in the range of 140.50~140.12.
Weekly : Bearish - Corrective Wave
Daily: Bullish - Corrective Wave
H4 : Bearish - Corrective wave
Outlook: Weekly and Daily TF showing the opposite direction of trend. On daily chart, GBPJPY corrective wave may complete once it exit the down trend channel. On H4 TF, GBPJPY moves in down trend channel. Currently making correction of down trend.
Trading Plan: As weekly and daily TF showing confusing move. Just look at H4 TF. Wait for breakdown and closed below 141.90 to enter short and target maybe in the range of 140.50~140.12.
Note
Daily Chart:
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