GBPJPY is inside a channel in h4 chart, the volumes are getting lower, that means that the buying pressure is decreasing and the price is going to drop towards the support trendline at least, we notice that the lower trendline corresponds to the horizontal support around 142.3, I think that price may fall in coming hours (tomorrow there will be high volatility due to the publication of Bank of England statement) towards the 100 sma.
Look at the idea below which represents an outlook of the pair in daily chart before considering to open a position.
Use a proper money management.
Francesco
Look at the idea below which represents an outlook of the pair in daily chart before considering to open a position.
Use a proper money management.
Francesco
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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.