GBPJPY - 12/09/2024 Market Analysis
Yesterday, GBPJPY created a significant low and found strong support around the 184.000 level, leading to a bullish rejection and forming a daily candle with clear rejection signals.
Given this price action, there are potential buy setups to watch for during the London session. However, it's important to stay cautious as we have PPI news scheduled for 10:30 PM, approximately 30 minutes after the New York open. This data release is known for its volatility, so it's advisable to wait for the news to pass before entering any trades to avoid unnecessary risk.
Given this price action, there are potential buy setups to watch for during the London session. However, it's important to stay cautious as we have PPI news scheduled for 10:30 PM, approximately 30 minutes after the New York open. This data release is known for its volatility, so it's advisable to wait for the news to pass before entering any trades to avoid unnecessary risk.
Note
Buy Limit set
Entry: 186.219
SL: 185.823
TP: 187.658
3.63 R:R
NOTE: THIS IS JUST FOR EDUCATION PURPOSE. DO NOT PLACE A TRADE WITHOUT KNOWING YOUR RISK.
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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.
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.