Hi Traders,
Today I take another look at GBPJPY, Price has dropped as expected in my previous post, But I have gotten stopped out before the drop. Looking At price, I believe the move is now done and we can expect a continuation to the upside.
Based on the 30-minute timeframe we have bounced off support and started moving bullish with all the current 30-minute candles closing as bullish candles, price has now met a minor level resistance at 166.600. If we are able to break above I will be looking at an easy Buy setup to 167.8.
Price could continue to make new highs But I will be happy with a 120 pip trade.
Be safe in the Markets.
Renaldo Philander
Today I take another look at GBPJPY, Price has dropped as expected in my previous post, But I have gotten stopped out before the drop. Looking At price, I believe the move is now done and we can expect a continuation to the upside.
Based on the 30-minute timeframe we have bounced off support and started moving bullish with all the current 30-minute candles closing as bullish candles, price has now met a minor level resistance at 166.600. If we are able to break above I will be looking at an easy Buy setup to 167.8.
Price could continue to make new highs But I will be happy with a 120 pip trade.
Be safe in the Markets.
Renaldo Philander