Triangle Fakeout Fails GBP/JPY Signal – What’s Next?

Posted Tuesday, September 18, 2018 by
Arslan Butt • 1 min read

What’s up, everyone.

The lack of economic events is causing a thin trading volume and volatility in the market. Which is why the market isn’t moving much but trading in sideways patterns. Same happened to FX Leaders GBP/JPY trading signal and we faced stop loss.

Looking at the 4- hour chart, the GBP/JPY indicated a breakout at 147.350 which was supposed to lead the pair towards 147.750. But the market reversed due to lack of trading volume. For now, the bullish trendline is providing a nice support near 147 and the violation of support can cause a further sell-off in the GBP/JPY.

On the upper side, the pair can stay bullish above 146.85 and it may remain bullish until 147.650. All the best!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments