Hello traders and the Tradingview community! Previously we had over 140 pips profit by selling GBP/JPY around the 184.20 level. Currently, GJ is retesting the resistance level on the 4Hour chart once again.
So, if the resistance doesn't break, we can look for another sell entry in GJ. Selling GBPJPY@184-184.20 with SL above the resistance level and initial TP at 182 would be a potential sell trade.
Note that the above idea is valid only if the resistance zone stays unbroken
Trade active
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Sold@184.09
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Price appears to have broken the resistance, now we need to confirm if the breakout is real. Waiting for NY session which will confirm is this is a breakout or a "fakeout"
you need to look at fundamentals not just a chart, this is all upside
YourLazyTrader
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@ibrar550, Yeah bro, Yen fundamentals have been weak for quite sometime now, well I am just waiting to see what happens today, if this zone is really broken, then time to close the sells
ibrar550
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@YourLazyTrader earthquake last week BoJ said they won't make any changes in January due to it, 2nd earthquake yesterday is sending the yen on a major decline