GBP/JPY-4-Hour overview

Hello everybody, I want to share this with you!

-On a 4-hour time frame chart, we can see that the price is moving in a descending triangle pattern, we can see that the price broke through the support line of a descending triangle but then the price returned moving within triangle pattern.

-We can see that the price closed with a nice bullish candle and we can also see that the price tested and rejected the resistance line of triangle pattern with a small upper wick.

-On stochastic indicator, we can see that the price is supposed to rise, we had crossover and the price is in a stable bullish momentum.

-On a daily base, GBP is at a similar level as JPY and on 4-hour and 8-hour base, GBP is much stronger than JPY,...That is why we had a bullish movement last 12 hours.

-If GBP remains stronger than JPY then we can expect further bullish movement and IF JPY gains some power and GBP loses its power then we can expect bearish movement!


-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.