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GBP/JPY Bullish Trend in 4 hours chart

Thursday, February 9, 2017 8:03
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2-9-2017 5-53-17 PMTrend is bullish in four hours time frame. Vital support is present at 136.43 price level. In last few trading days, price has printed a possible Bearish a, b and c Zig Zag Elliott Wave pattern. As expected, Bearish Wave B has completed. I, now expect price action to print Bullish Impulse Wave C leg in coming trading days.

A good idea is to look for a possible Buy trading chance to ride and trade Bullish Wave C leg. However; if market drops below 136.43 support level then up trend is going to fail. In such case, I would prefer to stay out of the market and re-analyze the price action in GBP/JPY currency pair.



Source: http://fxinstructor.com/blog/gbpjpy-bullish-trend-in-4-hours-chart

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  • Ahmed

    It’s pretty risky to trade on this pair especially if we are not having sufficient experience, it could be very hard to handle out things. I always work with careful way and it helps me tremendously with OctaFX because of their major addition on with their 50% deposit bonus, it’s awesome by all means. I also love it to do with the policy which is simple and straight forward and helps me work out in seriously great fashion to make profits!

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