GBPJPY#2--->Waiting buy:

Good day dear #investors and colleagues #traders.

Your attention a technical analysis of the currency pair #Gbpjpy:

#Comment_to_past_week:

The currency pair could not fix at the lower border of the ascending channel. Gbpjpy has probably suffered the most severe losses last week among all the currency pairs associated with the yen.

The currency pair fell by 610 points (4.2%).

#Technical analysis:

Globally (D1):

The pair left the narrow channel D1 by the standards of the ascending channel and headed without meeting any special support, dropping south to the minimum level since October 16 this year. On Monday, the currency pair drew the doges at the very bottom of the downward movement, if the currency pair does not decline today, and if it can grow, we can see a slight correction.

Locally (H1-H4):

The pair is consolidating in the range 139-137. Given the recent movement, we can assume that this is the formation of a support line and a zone of potential purchases.
Level 139 is the Fibonacci resistance of 23.6%, a breakthrough of this level will shift the attention of investors to level 140.

By tradition, we call the weekly support and resistance zones:

A) Support: 135.84 and 133.13;
B) Resistance: 140.23 and 142.93;

#Orders_and_position:

- Leading indicators: they tell us that the movement was too strong and is currently in the oversold zone and the current consolidation allows us to consider long positions.

- Indicators of price behavior: they say that price is only beginning to normalize movement. If consolidation continues, we recommend that you consider the next transaction.

- Transaction: buying the average price of the range 138 with #stoploss. 136.50 and #takeprofit 141 # RR = 2.0;

! Attention, you must wait for the normalization of price behavior.

! The Fund for Indirect Investor Asset Management (WMCI Asset Management), reserves the right to change stoploss and takeprofit levels in its trading, without notifying subscribers.

Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”