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Saturday, February 06, 2021

Potential Buy Limit at 144.230

Potential Buy Limit at 144.230

GBP/JPY OANDA:GBPJPY

Multi Timeframe Analysis

Weekly

GBPJPY impulsed powerfully northward since first week of January. Weekly resistance marked by the shaded box had been broken and turned support. Expect a correction to fibonnaci levels in a month however the master trend is supportive of buys only

Daily

GBPJPY continued an impulse northward after an expected retracement. There . no strong daily resistance in sight for now

Recommendation

Wait for for the first red daily candle to appear. Take a fibonacci level to 38.2% below the latest high , await a retracement, and enter long after the market turns bullish on the 4H chart. Possible entry points at 144.230 or 144.250 depending on the 4H signals

Note:
I don't sell signals no offer trading services. I am, however a 20 year forex trader and entrepreneur who's been developing private algos for personal use.
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