GBPJPY: The 0.618RET and the Support Zone
Updated
The market is moving along the downward channel, will it decline lower?
Maybe a good buying place is near.
The 0.618RET of previous rise is at 140.37 level.
Meanwhile the good support zone is at 140.3-140.8 levels which is also a fresh Demand Zone.
Additionally, the RSI has been divergent already.
So it is good to buy at 140.74-140.79 levels when price action gives signals in the PRZ.
SL: below 140
TP1: 142.6
TP2: 144.0
TP3: 146.1 and further more
Maybe a good buying place is near.
The 0.618RET of previous rise is at 140.37 level.
Meanwhile the good support zone is at 140.3-140.8 levels which is also a fresh Demand Zone.
Additionally, the RSI has been divergent already.
So it is good to buy at 140.74-140.79 levels when price action gives signals in the PRZ.
SL: below 140
TP1: 142.6
TP2: 144.0
TP3: 146.1 and further more
Trade active
Note
TP1 reached.
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