AndreaStimoli

GBPJPY What When Out of the Range?

OANDA:GBPJPY   British Pound / Japanese Yen
Hi guys, here is my analysis about GBPJPY .

How can you see GBPJPY was pushing up very strongly.
Now is five weeks that it is moveing trough two zones:
RESISTANCE ZONE = between 141.493 and 141.293.
SUPPORT ZONE = between 139.130 and 138.972.

What will happen next?

By my point of view there are two possible scenarios:
  • Price broke down and fall to the trendline that follow the uptrend (TP: use trailing stop or close at the trendline touch);
  • Price broke up and continue to push up (TP: use trailing stop).

To enter this trade I would like to wait for a retest of the support or of the resistance broken.

For any question or suggestion, comment below.
Thanks for reading.

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