GBPJPY has been in a bullish trend with the formation of higher highs and higher lows. With that, we are going to continue to look for bullish impulse waves to continue testing the brexit highs. We are looking to go long at support and the price would be at 188.75.

The ascending trendline might be retested at the support level to add to the confluence to continue up.

There is no retracement as the wave correction ratio is lower.

EMA 50 is still bullish and it can continue moving upwards with the bullish trend in continuation and we might see a confluence at the support level formed.

RSI is 72. It needs to be neutralized at the 50 level in order to align with the technical factors to contiue moving up.

GBPJPY buys from 188.75

Feb 13 2024

Take Profit +1.06%

Holding time 7d6hr

188.720

Entry price

190.718

Take profit price