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pericojonathan

GBPJPY - waiting for Price Action to either BUY or SELL

British Pound / Japanese Yen (FX:GBPJPY)  
pericojonathan Updated   
FX:GBPJPY   British Pound / Japanese Yen
Parallel Channel Support and Resistance Trend Lines
7
0
parallelchannel supportandresistance trendline
GBPJPY - waiting for Price Action to enter a trade.
Comment:
Support 132.400 needs to be broken on H4 to continue downtrend.
Watch price action on H1.
Comment:
Price need to break below 131.8 to confirm downtrend.
Watch price action on H1 for a retest once broken.
Comment:
Price broke up through 133.500
Need to wait for the new high to form before doing anything, then BUY retest
Comment:
SL triggered, but the pair behaved as expected and broke through 133.500, retested at 133.000 and climbed up.
Could wait for another restest on H1 TF. 134.000 seems to be a relevant level.
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