British Pound / Japanese YenUpdated (Japanese Yen) pair on a 3-hour timeframe.
chart showing the analysis of a JPY (Japanese Yen) pair on a 3-hour timeframe. Multiple support and resistance zones are marked with red and blue horizontal lines.
Key Observations:
1. Price Movement: The price is in a downtrend and is reacting at a strong support level (around 189.142).
2. Fibonacci & Zones: The chart seems to incorporate Fibonacci retracement or supply/demand zones for analysis.
3. Indicators & Analysis: No specific indicators are visible, but the analysis appears to be based on price action and market structure.
4. Potential Trade Setup: If the price bounces from this level, a reversal may occur. Otherwise, there’s a chance of further downside continuation.
Key Observations:
1. Price Movement: The price is in a downtrend and is reacting at a strong support level (around 189.142).
2. Fibonacci & Zones: The chart seems to incorporate Fibonacci retracement or supply/demand zones for analysis.
3. Indicators & Analysis: No specific indicators are visible, but the analysis appears to be based on price action and market structure.
4. Potential Trade Setup: If the price bounces from this level, a reversal may occur. Otherwise, there’s a chance of further downside continuation.
Trade active
Active Trade.
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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.
Join us for daily updates and grow your trading skills! t.me/+Xt4b3JSQCdA2NWQ0
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.