GBP/JPY Analysis : Looking at the bullish scenario
Hello traders and the entire Tradingview community! I will take a look
at the hourly chart of GBP/JPY and analyze it for you.
If you look at the chart, you will notice that GJ is slowly building
up a base around the 182.50 level. The immediate hurdle lies around
the 183.15 area, which is the 100-hour moving average.
If we see a strongly bullish candle breaking this immediate resistance, we
can expect price to continue higher towards 184 and 185 levels. Failure to
break the resistance will lead to further decline
Note that, I do not have any buy trades in GJ, I am waiting for more confirmation
before going into this trade.
at the hourly chart of GBP/JPY and analyze it for you.
If you look at the chart, you will notice that GJ is slowly building
up a base around the 182.50 level. The immediate hurdle lies around
the 183.15 area, which is the 100-hour moving average.
If we see a strongly bullish candle breaking this immediate resistance, we
can expect price to continue higher towards 184 and 185 levels. Failure to
break the resistance will lead to further decline
Note that, I do not have any buy trades in GJ, I am waiting for more confirmation
before going into this trade.