GBPJPY tries to recover the 168-169
After it fell nearly 700 points, the GBP/JPY pair will try to regain areas of 168-169 next week. The madman is capable of everything and may regain the 170 areas, but from my point of view, it is more inclined to fall after the correction, and we can see it in the coming weeks at Zones 160-155.
It is currently at a strong support area that it previously reached, but the price jumped by more than 700 points and now it is trying to break it after correcting towards 168-169
On the four-hour frame, we see that the price is below the moving average 200, and therefore we expect the future movement to be bearish with heavy selling force if the Japanese intervene in favor of their currency.
Good week for this pair's traders
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It is currently at a strong support area that it previously reached, but the price jumped by more than 700 points and now it is trying to break it after correcting towards 168-169
On the four-hour frame, we see that the price is below the moving average 200, and therefore we expect the future movement to be bearish with heavy selling force if the Japanese intervene in favor of their currency.
Good week for this pair's traders
🔥💥 Like, Shared and subscription 💥🔥
Note: If you are a beginner trader, you should be aware of these rules:
1: Do not covet
2: Don't trade too much
3: Secure your positions after entering the profit
4: Enter contracts that fit your portfolio
5: Adhere to all recommendations
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