GBP/JPY Daily Update (15/4/18)

OANDA:GBPJPY   British Pound / Japanese Yen
Point 1 : From the chart, we could see very nice rejection showing up at 154 zone.

Last week was a bullish run up, however price could not close above our resistance zone of price 153.

In the chart, you could see that at point 2, there is a selling however aggressive buying is in and push the price up about 130 pips.

Should you be bearish , you could take a LRE trade at the resistance zone of 153, however, for price to go down lower, 151.4 has to get broken first.

On the flip side, if there are no signs of selling in the upcoming week, Bulls will be in control and I will only be looking for long with 153 becoming the support.

The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
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Thank you sonic. What is LRE?
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