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GBPJPY – Daily buyers are still in the game

FX:GBPJPY   British Pound / Japanese Yen
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GBPJPY – Daily buyers are still in the game

Trend: Buy/ Neutral

Support/Resistance:
R3: 143.222
R2: 142.467
R1: 141.982
S1: 141.141
S2: 139.355

Price action:

Market on GBPJPY currency pair is in bullish zone level, but it might go lower if the price breaks first buyers support level at 141.141 and might continue to 139.355 support level .
On the other side, if buyers are enough strong to break second resistance level and if they're able to handle bears then we can expect bounce at third resistance level at 143.222.
To sum up, this trade might be risky to trade because still we need more proven data to see how the flow will decide. Eventhough it is good to trade this idea with Elite custom indicator that can catch H1 trade set ups. (recommended)

Potencial trade idea:

Bulls targets:
T1: 143.222

Bears targets:
T1: 139.355

NOTE – We are trading GBPJPY via the preferred trading setups

Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education


Good trading!

Elitefxacademy

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