GBP/JPY MTF Technical Analysis – Market Commentary – Forex Signal

Hello everyone! This post is covering the GBPJPY on MTF using the Professor setup

  • GBPJPY Monthly Timeframe
  • Possible Double Bottom Pattern *key reversal price action setup
  • Price is in a consolidation period following a downtrend
  • Key Level Breaks (with candle body hold, not wick):
  • Long – 152.030 with target zones of – 156.607 – 185.507
  • Short – 124.656 with target zones of – 116.812
  • GBPJPY Weekly Timeframe
  • Possible Double Bottom Pattern *key reversal price action setup
  • Price is in a consolidation period following a downtrend
  • Key Level Breaks (with candle body hold, not wick):
  • Long – 144.948 with target zones of – 147.170 – 156.607
  • Short – 124.656 with target zones of – 116.812
  • GBPJPY Daily Timeframe
  • Price is in a consolidation period following an uptrend
  • Key Level Breaks (with candle body hold, not wick):
  • Long – 135.665 with target zones of – 137.75 – 140.645
  • Short – 133.6 with target zones of – 132.714 – 127.877
  • GBPJPY 4 Hour Timeframe
  • Price is in a consolidation period following an uptrend
  • Key Level Breaks (with candle body hold, not wick):
  • Long – 135.070 with target zones of – 136.00 – 139.420
  • Short – 133.320 with target zones of – 132.014 – 129.844
  • GBPJPY 1 Hour Timeframe
  • Price is in a consolidation period following a downtrend
  • It has formed a triangle trend with lowered momentum
  • Key Level Breaks (with candle body hold, not wick):
  • Long – 134.735 with target zones of – 135.015 – 135.295
  • Short – 134.175 with target zones of – 133.980 – 133.704

Cheers to another successful week!

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