GBPJPY Forecast and Trade Setup for the week 24th Feb, 2014

GBPJPY Forecast and Trade Setup for the week 24th Feb, 2014

Weekly Chart

• Weekly performed a doji candle - a sign of uncertainty

Daily Chart

• Reached 2 trendlines / potential resistance and rejected from there giving us a pin bar candlestick pattern.

Hourly Chart

While writing this blog, i could see that there WAS a Bearish Cypher on the h4 chart which worked well with hitting minimum targets of this pattern. Anyway, it is too late to play this pattern.

With the Doji from Last week's candle - there could be good opportunity for scalps or range play while the market work itself out for the next move.

Outlook Trade opportunity

Please see hourly Chart, - I have a buy and a sell trade setup

Risk Level Medium

Tips -

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