Technical analysis by AMEGA - Opinion
Fundamental analysis: now GBPJPY is in a short-term bullish trend. After a long movement down (to the level of September 2017), prices are going up again. Important economic news on Japan and England is not expected today.
Technical analysis: the long-term bearish trend that began in summer 2007 has not yet turned around reliably. The medium-term trend is bullish since August 2017. Let's pay attention to the H4 chart - the Alligator's mouth is opened up, and the last four fractals (both bullish and bearish) are above the red line – this is a signal to buy.
Trading recommendations: follow the bullish trend. Long positions - above 148.000, the cancellation of this option and the transition to short positions – with a significant breakout of the two-day low at 146.000.
Sincerely, Sergey Ryazantsev - financial analyst of brokerage company AMEGA
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It’s recommended to try to have a short position near the control resistance zone 1.13742-1.13650 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.