GBP/JPY Break through or Bounce?[Key zone]
The price is in the key zone near the strong mirror level of 147.500 which previously acted as both a resistance and as a support (the areas are marked on the graph) And also next to the lower boundary of the rising channel.
Options for the development of the situation:
1.The price will bounce off this zone that will be a signal for the purchase and continuation of the upward movement.
2.The price will break through this zone, deep below the level / lower boundary of the channel, which will signal a further downward movement. (However, the entrance to the sale should be sought from retest)
P.S. I apologize for grammatical errors English is not my native language
Options for the development of the situation:
1.The price will bounce off this zone that will be a signal for the purchase and continuation of the upward movement.
2.The price will break through this zone, deep below the level / lower boundary of the channel, which will signal a further downward movement. (However, the entrance to the sale should be sought from retest)
P.S. I apologize for grammatical errors English is not my native language
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