Hello Traders! Here I have some nice clean simple GBP/JPY analysis...
Overall on the higher timeframes (Daily, 4H) GJ is clearly moving bullish, from this information I am only comfortable taking buys.
Strong support formed and identified on the 4H timeframe @144.450. Resistance formed and identified on the 1H timeframe @144.600.
In between the identified zones is a range in which GJ has been bouncing off both support @144.450 and resistance @144.600 since NY volume started to scatter.
Leading up to the Asian session open GJ has potential to break out of the range it is currently trading within, if I see a bullish candle break and close above 144.600 then I will be confident to take a buy to fill in the previous daily candle wick.
Let's see how this plays out 🙌
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Entered the trade on the break out of the range, a bullish candle closed above 144.600 giving me confidence for GJ to continue bullish.