Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area.
You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside.
On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely.
Thank you for watching and I will see you tomorrow!
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area.
You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside.
On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely.
Thank you for watching and I will see you tomorrow!