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. From the important economic news in England today – data on the consumer price index.
Technical analysis: the long-term bearish trend that began in summer 2007 has not yet turned around, but is close to it. 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 most fractals are above the red line – a signal to buy.
Trading recommendations: follow the bullish trend. Long positions - after the true breakout of the resistance level at 148.000. Cancellation of this option and accordingly short positions – with the breakdown of the two-day low at 146.500.
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.