GBPJPY| Support Zone is Being Targeted Following The Correction
Currently, the price is following a bullish trend toward the upper boundary of the channel and is likely to attempt a breakout. However, I expect the price to consolidate below the 194.67 level before beginning a decline toward 192.91, and potentially further to 191.22. If the support zone is broken, I expect the price to continue downward to 189.87.
However, if we experience a breakout above the 194.67 level, the price is likely to continue rising until it reaches the next resistance level. This resistance is expected to act as a barrier to pushing the price to decline.
Bullish target: 194.67, 196.530, 198.569
Bearish target: 192.914, 191.223, 189.879
However, if we experience a breakout above the 194.67 level, the price is likely to continue rising until it reaches the next resistance level. This resistance is expected to act as a barrier to pushing the price to decline.
Bullish target: 194.67, 196.530, 198.569
Bearish target: 192.914, 191.223, 189.879
- Traders, if you find this analysis helpful or have your own insights, drop a comment below! I’d love to hear your thoughts.
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the price rose and break the channel, and trades outside the channel at the same time below the resistance zone, and should this zone push the price to falling down
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Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.