GBPJPY Analysis (22nd May 2024)
Market Analysis PT2/2 (22nd May 2024)
GBPJPY Analysis
On the 30 minute timeframe, we have created a very strong support at the 198.272 - 198.363 level, having more than 5 taps along the area and rejecting it.
There are 2 scenarios i am looking for.
1) Price breaks above the 198.615 level with a body candle close on the 15 minute. If we do have that, i will be looking for potential Buys ton continue the bullish move, given that it provides a retest of the 198.615 level.
2) Price breaks below the 30 Minute support with a body candle close. IF this happens, support fails and turns into resistance, this is where will be looking for a break and retest to continue lower towards the 197.800 level.
🌍Telegram | t.me/callistofx
📺Youtube | youtube.com/@callistofx
📷Instagram | instagram.com/callisto_fxtrades/
📺Youtube | youtube.com/@callistofx
📷Instagram | instagram.com/callisto_fxtrades/
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.