GBPJPY 30min Analysis February 9th, 2021
Price has found support at our key structure zone of 144.00 and the 30min 200MA is also acting as support.
Trade Scenario 1: Bearish - For us to go short we need to see price reject off our key weekly around 144.600. We will look to enter on strong bearish setups off this zone.
Trade Scenario 2: Bullish - For us to go long we need to see price push above our key weekly level of 144.600. We will then wait for a retrace and for price to find support around 144.600. Enter on strong bullish setups.
Trade Scenario 1: Bearish - For us to go short we need to see price reject off our key weekly around 144.600. We will look to enter on strong bearish setups off this zone.
Trade Scenario 2: Bullish - For us to go long we need to see price push above our key weekly level of 144.600. We will then wait for a retrace and for price to find support around 144.600. Enter on strong bullish setups.