GBP/JPY Dec 13th 2018 Up or Down?
Updated
Gj currently is slightly above the support level of 142.789, (the gold line)
In the past, we can see this price level plays pretty good for trend decisions.
As long as the price stay above this level 142.789. It should go higher to 144.036, (purple line above)
once breaks it, we can expect it goes higher to the next one, 145.437.
However, if the price can not stand above the gold line, then it will drop to last low, 141.582.
Since it's December, market could be choppy, plus the Brexit deal issues that GBP is having. Just be careful.
Last thing,
never go against the market and have good risk management. :)
We all learned it from the hardest way.
In the past, we can see this price level plays pretty good for trend decisions.
As long as the price stay above this level 142.789. It should go higher to 144.036, (purple line above)
once breaks it, we can expect it goes higher to the next one, 145.437.
However, if the price can not stand above the gold line, then it will drop to last low, 141.582.
Since it's December, market could be choppy, plus the Brexit deal issues that GBP is having. Just be careful.
Last thing,
never go against the market and have good risk management. :)
We all learned it from the hardest way.
Trade closed: target reached
100 pips from entry. If you more than 50 pips in profit, you gotta take profit!
Cuz market will not go in one direction forever. Once it goes to certain amount, it has to retrace or pullback. <3
Trade active
Wait for next level.Comment
Yellow Line was acting the resistant level after the price broke down, and couldn't stay above. reaching the purple line below.
watch, either bounce back or continue going down.
I'd say it will go lower.
Trade closed: target reached
TWO purple line both reached below the yellow line.Result is done.
New analysis will be created.
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.