GBP/JPY Trading Analysis (04/10/2024)
The trend is ascending. The downward wave stricture is truncated. The currency pair is trading in the range between 365 and 135 ЕМА. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy at the beginning of the formation of the ascending wave structure, when wave A breaks the sloping channel of the descending truncated structure.
- Stop-loss at 191.720.
- Price targets at 193.408 and 195.000.
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