GBPJPY - 2 options
The price has started to make its way back up, the price has 2 clear options. Either the price moves to around 147.25 and reverses downwards, this would mean that the price did not have enough strength to break this broken support level and this is now acting as a resistance level. Or the price would break this level and move higher to around 149.90, then after move back down to this level around 147.25 which should act as a support level and the price should be able to make massive bearish gains (head & shoulders pattern can then be spotted). I would keep everyone updated on this pair over the coming days.
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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.