We saw price push through the 132.268 level but then however resist at the 132.540 level and is currently heading in the bearish direction on the 1hr chart. The pair is currently in a down trend on the daily chart with lower highs and lows over the past couple of weeks. I would like to see the 132.5 level tested again followed by an entry candle in the bearish...
Price is forming a double bottom on the 1hr chart at the resistance level 1.7654 and with price being in a downtrend for many weeks, I believe that price will pullback up to the 1.7867 level over the coming days and then retrace in the bearish direction.
Here we are able to see that price is heading in the bullish direction - however I believe it will hit an area of resistance at the 132.268 level or 135.418 level if the area of minor resistance is broken. On the Daily chart the GBPJPY pair has been in a downtrend for the past few years, so I hope to see price retrace at one of these resistance points and head...
We can see that a double bottom has formed on the Daily chart, alongside an entry (engulfing candle) on the 4hr chart. I have set a BUY STOP order once price has risen slightly more.
