GBP/JPY Analysis for Week 19
Updated
DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
Alright guys this has been one hell of an interesting pair for me, so here we go!
Daily:
Pretty obvious Resistance level at 148.044 but that's no longer out business.
Strong bullish trend here, making good retracements.
____
4hr:
On the 4hr chart we get a more clearer view of support and resistance levels. Previous support turned resistance at the 143.686 levels, and a hard resistance level around 143.066. Support at 141.854 which is actually around the area where the price opened this week.
So here are my thoughts for this week:
Price will break support level at 143.066 and test the trendline or even the 143.686 level. and bounce back down to continue with the trend.
Alright guys this has been one hell of an interesting pair for me, so here we go!
Daily:
Pretty obvious Resistance level at 148.044 but that's no longer out business.
Strong bullish trend here, making good retracements.
____
4hr:
On the 4hr chart we get a more clearer view of support and resistance levels. Previous support turned resistance at the 143.686 levels, and a hard resistance level around 143.066. Support at 141.854 which is actually around the area where the price opened this week.
So here are my thoughts for this week:
Price will break support level at 143.066 and test the trendline or even the 143.686 level. and bounce back down to continue with the trend.
Note
Ok guys, here it is, my TP was hit.Gonna keep an eye out on it cause it didnt break previous support.
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