Trading Idea

GBPJPY: Short Term Bullish Setup


Intraday Analysis | 4H |

From a technical point of view, the trend is bullish on intraday chart, and GBPJPY pair could trigger another bullish leg in the short term. If we look on 1H chart, the price remains within a narrow trading range, and this means volatility compression. In this technical context, if the price remains above 184.552 a breakout on the bullish side should be logical. If this happens, we will need to look for potential Targets and in this case the formation of a Harmonic Pattern could help us. If we look at the harmonic structure (for us it’s bullish) in the window, we see 2 Targets: 186.34 and 186.83.

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