GBP/JPY Forex Analysis and Forex Signal - SlickTrade Academy - Nadex and Forex

GBP/JPY recently tested a key support level on the D1 timeframe.

Our target zone for the long entry is 139.615 – 142.880

Technical Analysis

Technicals from our live trading charts show that indicators are displaying a short overall on the D1 timeframe (however are becomming quite neutral).

What others are predicting

We see other traders’ analysis on the live trading charts, that show:

OANDA:GBPJPY RALLY trade on going 140.141 target

We are currently trading the 4th leg of possible bat pattern that is forming on the 4 hr chart. We are predicting the harmonic pattern will be completed and a recent break of the yellow trend line has given the pattern and our strategy confirmation. FX:GBPJPY
Target 138.573

Here are my thoughts!

As long as price does not break and hold below the previous major support area, then we are golden for a long entry. I will be entering my positions at the opening of the trading week.

Our target range for the long entry is: 139.615 – 142.880

Cheers to another successful week!