GBP/JPY (British Pound vs. Japanese Yen) on a 1-hour timeframe.
Key elements in the chart:
• Entry Zone: A highlighted area around 189.142 - 189.573, indicating a potential sell entry.
• Target Area: A green triangle pointing towards 188.103 - 187.507, suggesting a possible price drop.
• Current Price Level: 189.037 at the time of the screenshot.
Interpretation:
The setup suggests a short trade (sell position) from the entry zone, with expectations of price declining towards the target area around 188.103 - 187.507. This could be a resistance rejection trade, where price is expected to reverse from the resistance level.
Key elements in the chart:
• Entry Zone: A highlighted area around 189.142 - 189.573, indicating a potential sell entry.
• Target Area: A green triangle pointing towards 188.103 - 187.507, suggesting a possible price drop.
• Current Price Level: 189.037 at the time of the screenshot.
Interpretation:
The setup suggests a short trade (sell position) from the entry zone, with expectations of price declining towards the target area around 188.103 - 187.507. This could be a resistance rejection trade, where price is expected to reverse from the resistance level.
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.
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.