GBPJPY 30min Analysis December 14th, 2020
The weekly zone is still being defended at 139.50.
Trade Scenario 1 - Bearish - We can enter on bearish engulfing at the 200MA on the 30min timeframe and target the current demand zone of 138.00.
Trade Scenario 2 - Bullish - We can wait for a confirmed retrace back to the demand zone around 138.00. We will then wait for bullish pressure to form and enter on bullish engulfing/variations.
Trade Scenario 1 - Bearish - We can enter on bearish engulfing at the 200MA on the 30min timeframe and target the current demand zone of 138.00.
Trade Scenario 2 - Bullish - We can wait for a confirmed retrace back to the demand zone around 138.00. We will then wait for bullish pressure to form and enter on bullish engulfing/variations.