GBP/JPY Analysis by fxmagician (29-Apr-2016)

GBPJPYH4 GBPJPYDaily

GBP/JPY.. The Pair on Daily Chart got a Breakout from Falling Trendline and again Retesting the trendline, whereas as per H4 chart, the pair is also in short term rising channel and the channel is still valid after yesterday’s big moves. The channels support lines may be touched in order to complete the downmove, Trade Accordingly and Buy Close to the Channel support with SL below the support lines. Targets can be higher and bigger than expected. may be we can see recent highs again. It’s Just a View and can become invalidated if the channel support is broken. Trade carefully, Follow proper Risk Management and trade Smaller lots as the trade stoploss and TP is big.

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