GBPJPY 30min Analysis January 21st, 2021
Price is currently at our supply zone testing for the 3rd time today.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our supply zone of 142.200. We will then wait for a retrace and for 142.200 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price breakdown below our supporting trend line and 141.900. We will then wait for a quick retest and for 141.900 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our supply zone of 142.200. We will then wait for a retrace and for 142.200 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price breakdown below our supporting trend line and 141.900. We will then wait for a quick retest and for 141.900 to flip as resistance.
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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.