GBP/JPY Outlook


Let’s take a look at the GBP/JPY hourly chart.

We’re fast approaching the trend line drawn and the recent upward movement appears it could be a potential Ending Diagonal (ED). We like trading Ending Diagonals because when they complete, it will move sharply in the opposite direction.

It seems the trend line may hold as resistance so watch for a potential test of the trend line. Use your own analysis to look for a potential entry point.

Good luck and be sure to use your money management.

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