Symmetrical Triangle Formation Puts GBPJPY On Daily Watchlist.

In this brief video (2:53) we will highlight the price structure of the GBPJPY for the week ahead and discus the potential opportunities the underlying price patterns represent.

Symmetrical Triangle

The bullish symmetrical triangle structure represents a period of indecision with higher lows and lower highs with the price eventually  converging on a point of breakout. A symmetrical triangle during an uptrend typically represents a continuation pattern and if the trend is strong this increases the likelihood of a break higher. This pattern can also offerr reversal opportunities on the break of the lower trend-line.

What are your thoughts on the GBPJPY for the week ahead? Do you have any further analysis to add? Let us know in the comments section below.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Related Posts

  1. Ahsanur Rahman Reply

    The restriction Labor Party, drove by Jeremy Corbyn, is down 0.4% to 24.9% as appeared in the surveys at the present time. That puts the hole at over 12%, yet they have the choice to collaborate with Jo Swinson’s Liberal Democrats – who have been picking up footing to the detriment of Labor and remain at 17.8%. An alliance among them and the Greens would take them near 47%, so regardless they have odds of framing the administration.

Leave a Reply