GJ Analysis 04/10/2020

FX:GBPJPY   British Pound / Japanese Yen
We are trading in a 25 pip range, as we know it is not a good idea to trade in an Asian range.

1) If we get a clean break of 136.365, wait for support to form on lower timeframes before looking for buys to test resistance at 136.750. It is a good sized range to fill with clean traffic so buys are preferred if an opportunity arises.

2) If we break support at 136.100, look for resistance to form on lower timeframes before looking for sells, sells aren't very clean in this market structure and I have highlighted potential barriers which could cause trouble along the way. A potential target can be support down at 135.800.

Trade safe especially during Asian and always secure profits at 10-15 pips and leave a runner.


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