vj20_fx
Short

Waiting for a break of support level

FX:GBPJPY   British Pound / Japanese Yen
The strong resistance level 148.100 has proved to hold price very well since the end of last year. Price failed to make a higher high recently with a strong bearish reaction at the support zone . We have just seen a retracement to 146.800 and rejected twice showing that price did not idle at this level.I am now waiting for price to react at support level 145.000 to then decide if I will enter the short position.

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