Hello traders, GBP/JPY is currently at a very crucial level on the
4Hour chart. Let's look at the chart and analyze it
📌In the 4Hour chart, price is currently just under the dynamic resistance.
So far, we have not seen any bearish candles. However, the next candles
could be bearish.
📌Price is also at the broken support turned resistance level as I have
indicated in my chart.
📌So, in case of bearish price action in the highlighted zone, selling
GBP/JPY@182.60-182.85 with SL above 183 and TP at 180.83 would be a potential
sell trade.
4Hour chart. Let's look at the chart and analyze it
📌In the 4Hour chart, price is currently just under the dynamic resistance.
So far, we have not seen any bearish candles. However, the next candles
could be bearish.
📌Price is also at the broken support turned resistance level as I have
indicated in my chart.
📌So, in case of bearish price action in the highlighted zone, selling
GBP/JPY@182.60-182.85 with SL above 183 and TP at 180.83 would be a potential
sell trade.
Trade active
Sold at 182.60 as per planNote
Currently in 28 Pips profitTrade closed manually
Closed at 181.98 with 62 Pips Profit. Will reenter if price pulls back to the 4H resistance zone
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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.
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.