RISING WEDGE

GBPJPY1D

Neutral

Sep 23 2023

GBP/JPY

Security has formed a proper rising wedge pattern.
A rising Wedge breakout on the downside has a higher probability of winning the trade.
Currently, the security is trading near the EMA.

ADX is showing strength in the formation. A breakout on either side with ADX trading above 20 will be an excellent confirmation to enter.
A breakout on the upside/downside will be an opportunity to enter long/short security.

Trade as per breakout