GBP/JPY - Forecast

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As you can see we have multiple trends and zones. I have labelled each trend and zone for your educational purposes, hoping you will understand where I am coming from.
- The Daily trend shows UP
- The 4h TF (Timeframe) also shows UP

We have a 4h zone which has been highly respected in the past. We are hoping for a breakthrough this time, hoping it will break through the zone and come back to retest it as Supp. If this is the case then we will enter a position until the next zone which is daily, which is really strong.

This trade is a 18.00 Risk Ratio with a 20 pip Stop Loss and a 360 pip Take Profit.

The only reason why this trade should not break the 4h zone and rally back down towards 136.000 is due to COVID-19 as the UK are planning on returning into partial lockdown status.

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Сделка закрыта: достигнута тейк-профит цена
Chart PatternsGBPJPYgbpjpyforecastgbpjpylongTechnical IndicatorsTrend Analysis

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