FX.co ★ Trading forecast for GBPJPY pair on 11/29/2017

The second month continues the formation of a long-term accumulation zone. Monthly boundaries determine the levels of support and resistance, which allows fixing of the profit and look for new entry points after their test.

Medium-term plan.

Yesterday, the movement was influenced by the news which allowed the formation of a reversal model, allowing to keep purchases made on a weekly short-term order at 148.11 - 147.73. The first target is the week-long short-term fault at 151.13-150.75. Any downward movement should be considered as corrective, seeking for favorable prices of purchasing the instrument. It is important to note that new monthly short-term appointments will be determined at the end of this week. This makes the withdrawal of purchases in the mid-term possible in order to continue strengthening the British pound.

For the formation of an alternative model, the majority of yesterday's growth needs to be continued, which will cancel the formation of an upward mid-term reversal pattern.

Intraday plan.

The upward movement yesterday made it possible to reach NKZ 1/2 at 149.04 - 148.85. Securing above this zone will allow the consideration of a reversal model formation. The first goal of day traffic is NKZ 1/4 at 150.08-149.99, where the probability of the appearance of a deal and the formation of a correctional model increase. The main goal of the growth will be a weekly short-term error of 151.85-151.47. During the American session today, securing the level above 149.09 will increase the probability of working out the model examined to 70%.

The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.

The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.