As for the price being exposed to new negative pressures and sneaking below the previously mentioned support, this will force it to activate the downward corrective path again, forcing it to incur additional losses that may soon extend towards 180.04 , reaching the 55 moving average, stable at 180.48 .
Pivot Price: 181.69
Resistance Price: 182.41 & 182.91 &...
I have been swing trading GBP/JPY over three months. Price action has been respecting umbrella resistance of top and ranging for a while. I took a buy today from demand zone on daily and entry using lower time frame candles.
This is my personal view and based on my analysis and startegy, I can see price start to fall from the resistance level also BXY RSI is currently overbought on all timeframe also has many gap to cover, GJ RSI is currently overbrought as well so assume this will start to fall soon.
Trade at your own risk
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