GBPJPY
Long positions.
Price did drop a substantial amount of pips; however, it did not break support (yellow box). I see consolidation on the smaller timeframes before the drop occurred. Price passed the 38.2%, so we wait for the next PRZ level to hit and establish a new, higher low.
Price did drop a substantial amount of pips; however, it did not break support (yellow box). I see consolidation on the smaller timeframes before the drop occurred. Price passed the 38.2%, so we wait for the next PRZ level to hit and establish a new, higher low.
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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.