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

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!

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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