GBPJPY 4 Hour. Potential Breakout.

Updated

GBPJPY

Support and 142.00 Psychological level and support. If price breaks 143.00 then we could see potential upside to the 144.00 area. The risk reward on this trade would not be very good. 8EMA21SMA is showing bullish momentum. If price consolidates under the 143.00 level we could have a short trade down to 142.00 instead.

I will post updates on this trade!

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Ok guys in my over trade idea i was waiting for a retest and just noticed we may be going for a retest now (look my prev trade). This could mean that it bounces of the trend lines if it break 143.00 then we are looking and a very nice sell setup. If it does not of this then forget this idea

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That would been a nice short. Maybe we can see if we will go back to 143.00

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I'm entering if break to the downside now as price has retested trend line.

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Shorting this pair!

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Wait for candle close and emasma crossover

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Retest? or will it close above 142.00 i hope not

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If you look on my other trade idea for this pair you will see this is most likley a retest of that trend line go look

as long as it does not break 143 should be good trade

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Price is consolidation under support lets just wait.!

JoeMatkinFX

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