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Price compressed toward supply

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
CityTradersImperium_CTI  
OANDA:GBPJPY   British Pound / Japanese Yen
Support and Resistance Supply and Demand Chart Patterns
4
1
supportandresistance supplyanddemand chartpattern
In the H1 chart of the GBP/JPY, we observe that the price has moved upward in a compressed manner, indicating buyer weakness. Above the current level, there is a significant supply zone, which appears to be an ideal point for initiating a sell position upon the first contact with the price. The longer it takes for the price to reach this supply zone, the better the opportunity may become.
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