GBPJPY_1st Week of Dec 2021
GBPJPY currently retest at the previous Daily support. All we have to do is to look on Yen Index which currently approaching an area of high confluence (see our Yen index chart analysis)
We need Yen to weaken so that GBPJPY could play out, otherwise it may retest to the weekly RBS level
Using simple entry technique
Step 1:
Waiting for the price to completely break the correction trendline
Step 2:
Waiting for HH & HL structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the structure level. Use any indicator that suits you
* We may consider the price may retest the RBS level
We need Yen to weaken so that GBPJPY could play out, otherwise it may retest to the weekly RBS level
Using simple entry technique
Step 1:
Waiting for the price to completely break the correction trendline
Step 2:
Waiting for HH & HL structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the structure level. Use any indicator that suits you
* We may consider the price may retest the RBS level
Related publications
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.