Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy is approaching a quite strong and obvious previous weekly resistance area exactly at the 169 JPY area.
You can also see however that market structure and moving averages are still quite bullish so I just do expect a deeper push into the resistance zone, followed by a short term rejection towards the downside but then I definitely do expect more continuation towards the upside again.
On the daily timeframe you can see that GbpJpy just broke above and retested a previous daily resistance area which was turned support so I am now just waiting for a deeper retested of the 169 JPY area before I then do expect also a short term daily rejection towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy is approaching a quite strong and obvious previous weekly resistance area exactly at the 169 JPY area.
You can also see however that market structure and moving averages are still quite bullish so I just do expect a deeper push into the resistance zone, followed by a short term rejection towards the downside but then I definitely do expect more continuation towards the upside again.
On the daily timeframe you can see that GbpJpy just broke above and retested a previous daily resistance area which was turned support so I am now just waiting for a deeper retested of the 169 JPY area before I then do expect also a short term daily rejection towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
