Hello Trader, Here is the full analysis of GBPJPY:
1) Monthly - Prices are currently testing monthly support and if it break then it will test the 135.285 level.
2) Daily - We can see a retracement between 23 and 38 levels.
3) Hourly - We can prices are taking support at monthly level.
Action
With one hour prospect prices seem to be within weekly and monthly resistance and support. One can wait for either one to break and then take positions. If it falls below monthly then 135.196 will be tested and then possible up move will be seen. if crosses 141.028 then one can look for long position.
Technical Indicators:
Moving Averages Bullish
Technical Indicators Bullish
Moving Averages Crossovers Bullish
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1) Monthly - Prices are currently testing monthly support and if it break then it will test the 135.285 level.
2) Daily - We can see a retracement between 23 and 38 levels.
3) Hourly - We can prices are taking support at monthly level.
Action
With one hour prospect prices seem to be within weekly and monthly resistance and support. One can wait for either one to break and then take positions. If it falls below monthly then 135.196 will be tested and then possible up move will be seen. if crosses 141.028 then one can look for long position.
Technical Indicators:
Moving Averages Bullish
Technical Indicators Bullish
Moving Averages Crossovers Bullish
How can you support me:
1) Like my idea.
2) Follow me for more analysis
Feedback :
Please share your feedback in comments and this will help me to improve my drawing and analysis
Note: This is purely for educational purpose.