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GBPJPY – Fresh TKx Has One Hurdle to Go
After forming back to back strong TKx (Tenkan-Kijun Cross) Signals, the pair decided to go for a trifecta which it just formed earlier to close the London session. With the strong bullish price action stopping just shy of the SH (Swing High) from the 26th at 129.76, the pair has formed a flag pattern towards these highs suggesting an upside breakout is more likely.
Notice the chikou span which is just below the prior SH we spoke of with nothing else above in the near term, suggesting price just needs to clear this high and the uptrend will likely resume. Although the kumo ahead is weakening a bit, this is still …... Keep reading