FX:GBPJPY   British Pound / Japanese Yen
Here we have a key support and resistance level as show by purple arrows ( resistance ) orange arrows ( support ) When price comes to this level it normally fails to break it and price is currently sitting at this level using it at support.

Now look at the previous 4H candle that was formed and closed, it had a long lower shadow ( spike ) that tried to break this level but the bears ( sellers ) were not strong enough and the bulls ( buyers ) took control pushing price just above our key level before closing, this is a key indication that price is going to go long again.

Be a wear when trading GBP pairings though because of Brexit bull#hit can make pairings very volatile around key votes or news, so please trade with correct risk management!


As a UK resident, I stopped watching the news a few weeks after David Cameron let us monkeys decide on something we should NEVER have had the vote for..

Danny Dyer sums it up nicely - https://www.youtube.com/watch?v=vWAa3_OyS48
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out