As you see in the 4H timeframe, GJ has been rejected from the red resistance zone for several times and currently, it is facing a strong bearish pressure and pushing to the downside.
The main trend is a downtrend, and price has started to drop after an upside retrace.
The first target for GJ is the last low at 161.300 which is almost 50 pips, and in the case of a downside breakout on this level, we can expect more drop on price around 159.550
The main trend is a downtrend, and price has started to drop after an upside retrace.
The first target for GJ is the last low at 161.300 which is almost 50 pips, and in the case of a downside breakout on this level, we can expect more drop on price around 159.550
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.