{"id":128257,"date":"2018-06-11T06:35:17","date_gmt":"2018-06-11T10:35:17","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128257"},"modified":"2018-06-11T06:14:02","modified_gmt":"2018-06-11T10:14:02","slug":"gbp-jpy-retracement-trend-line-breakouts-for-uptrend-continuation","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/gbp-jpy-retracement-trend-line-breakouts-for-uptrend-continuation\/","title":{"rendered":"GBP\/JPY Retracement Trend Line Breakouts for Uptrend Continuation"},"content":{"rendered":"
June 11, 2018<\/div>
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By Admiral Markets<\/b><\/p>\n

\"GBPJPY<\/a><\/p>\n

Source: Admiral Markets MT5<\/a> with MT5SE Add-on<\/a><\/em><\/p>\n

The GBP\/JPY, so popular “Dragon” has been making obvious trend line breaks above the ascending trend line. This signifies both retracement-continuation pattern in uptrend (a for of zig-zag pattern). 147.05-40 is the POC zone and we could see another rejection should the price retrace again. A strong 1h momentum candle or 4h close above 148.11 should target 149.15. Have in mind that 149.15 is a weekly target and the final weekly resistance. If the price gets there before the end of the week, we might see even stronger uptrend.<\/p>\n

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)<\/p>\n

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)<\/p>\n

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)<\/p>

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Free Reports:<\/p><\/div>\r\n

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)<\/p>\n

D L3 \u2013 Daily Camarilla Pivot (Daily Support)<\/p>\n

D L4 \u2013 Daily H4 Camarilla (Very Strong Daily Support)<\/p>\n

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)<\/p>\n

Best wishes,<\/p>\n

Nenad<\/p>\n

Follow Admiral Markets<\/a> on Facebook \u2013 @AdmiralMarkets<\/a> on Twitter \u2013 for the latest market updates.<\/p>\n

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks<\/a>.<\/p>\n

Article by Admiral Markets<\/b><\/p>\n

Source: GBP\/JPY Retracement Trend Line Breakouts for Uptrend Continuation<\/a><\/p>\n

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Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Admiral Markets Source: Admiral Markets MT5 with MT5SE Add-on The GBP\/JPY, so popular “Dragon” has been making obvious trend line breaks above the ascending trend line. This signifies both retracement-continuation pattern in uptrend (a for of zig-zag pattern). 147.05-40 is the POC zone and we could see another rejection should the price retrace again. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128257","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=128257"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128257\/revisions"}],"predecessor-version":[{"id":128266,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128257\/revisions\/128266"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}