Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Looking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke...
GJ has hit a strong downward TL, finding confluence of resistance there. Shorts here may feed us for the week, my pipples!
I hope you don't mind the longish video, as I like to teach as I give my analysis. I am hoping to help newer traders learn to become independent traders themselves.
A roof? What do we have here?
on GBP/JPY all we see is a confirmation for a sell to 131.372
We might see a pull back to 135.576
Resistance levels: 135.576, 138.27
Support levels: 133.372, 131.168, 129.341
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