GJ recently made a rally and now price looks to be in a range. If price breaks and closes above 156.20, there is a probability that price can continue bullish to retest the daily resistance above at 156.485, which is also a potential wick fill.
This will more than likely take place during the London session when the market has more volume.
If price fails to break the highs, price can potentially break the minor level of support at 156 to retest the level where price broke out from at 155.80.
Be mindful of placing sells because the overall trend looks like price is moving bullish and there could be a possible rejection from the EMAs.
1. Price broke out from range
2. 4H Level of Resistance, if price breaks and closes above, there is a chance price can retest the daily level of resistance
3. If price begins to break below and close below 155.990 there is a chance that price can retest the bottom of the range
This will more than likely take place during the London session when the market has more volume.
If price fails to break the highs, price can potentially break the minor level of support at 156 to retest the level where price broke out from at 155.80.
Be mindful of placing sells because the overall trend looks like price is moving bullish and there could be a possible rejection from the EMAs.
1. Price broke out from range
2. 4H Level of Resistance, if price breaks and closes above, there is a chance price can retest the daily level of resistance
3. If price begins to break below and close below 155.990 there is a chance that price can retest the bottom of the range