Hi guys,
Please see my GBPJPY 1H timeframe chart analysis.
As we can see the price was testing support around the 154.500 region and was struggling to break through with 2/3 touches in that area but we have now broken through and the price is rising back up which could potentially now be resistance and give us a rejection to the downside.
Not actioning any trades with this yet but I will be watching closely to see if we get a break back through or if we get a rejection back to the downside, I will be waiting for a potential pivot candle near resistance followed by a bearish candle to give me confirmation to enter the trade.
I will update this idea as price moves over the next 2/3 candles.
Any likes and comments would be appreciated.
DWFX
Please see my GBPJPY 1H timeframe chart analysis.
As we can see the price was testing support around the 154.500 region and was struggling to break through with 2/3 touches in that area but we have now broken through and the price is rising back up which could potentially now be resistance and give us a rejection to the downside.
Not actioning any trades with this yet but I will be watching closely to see if we get a break back through or if we get a rejection back to the downside, I will be waiting for a potential pivot candle near resistance followed by a bearish candle to give me confirmation to enter the trade.
I will update this idea as price moves over the next 2/3 candles.
Any likes and comments would be appreciated.
DWFX