GBPJPY Analysis
Price is currently in a range, between the Daily Resistance at 188.500, and the 4H Support at 187.400.
It is now hovering near the Daily Resistance.
Scenario 1:
SELL entries are possible the moment price forms a bearish confirmation pattern, with targets set at the 4H Support of the range.
Scenario 2:
BUY entries are possible after price breaks through, closes above and re-tests the Daily Resistance & the Candle High at 188.934.
Targets will be placed at the next strong psychological level at 190.000.
Price is currently in a range, between the Daily Resistance at 188.500, and the 4H Support at 187.400.
It is now hovering near the Daily Resistance.
Scenario 1:
SELL entries are possible the moment price forms a bearish confirmation pattern, with targets set at the 4H Support of the range.
Scenario 2:
BUY entries are possible after price breaks through, closes above and re-tests the Daily Resistance & the Candle High at 188.934.
Targets will be placed at the next strong psychological level at 190.000.