GBP/JPY (British Pound / Japanese Yen) on the 45-minute timeframe.
Chart Analysis:
• Trading Plan: The chart highlights an “ENTRY ZONE”, indicating a potential buying area.
• Potential Movement: The green triangle suggests that the price might move upwards toward 190.372 or 190.889.
• Rejection Points: Certain areas where price faced selling pressure (marked with green circles) indicate previous resistance levels.
• Support Level: The zone between 188.772 - 188.950 acts as support, where the price might bounce back up.
This chart seems to follow a breakout or bounce trading strategy, where buying is expected in the “ENTRY ZONE” with targets around 190+ levels.
Chart Analysis:
• Trading Plan: The chart highlights an “ENTRY ZONE”, indicating a potential buying area.
• Potential Movement: The green triangle suggests that the price might move upwards toward 190.372 or 190.889.
• Rejection Points: Certain areas where price faced selling pressure (marked with green circles) indicate previous resistance levels.
• Support Level: The zone between 188.772 - 188.950 acts as support, where the price might bounce back up.
This chart seems to follow a breakout or bounce trading strategy, where buying is expected in the “ENTRY ZONE” with targets around 190+ levels.
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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.
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.