GBP/JPY Trend analysis Feb 16
The thickest yellow line is where you want to focus on, since its the break line for wether a sell or buy.
Price was struggling for days try to climb above the line and it couldn't, then had a big dropping.
End of Friday, price has a huge pull back for sells. And price ends right below this yellow line.
So next week watch carefully how price is playing around this line.
If it break through , it will be a buy, and you gonna target next resistant level.
If it can not break through, then it will be a sell to next support level.
It's about how price is acting at levels.
ABOUT the trend, the pair is forming a nice up trend line, a good structure to analysis as well.
HAPPY TRADING!
Price was struggling for days try to climb above the line and it couldn't, then had a big dropping.
End of Friday, price has a huge pull back for sells. And price ends right below this yellow line.
So next week watch carefully how price is playing around this line.
If it break through , it will be a buy, and you gonna target next resistant level.
If it can not break through, then it will be a sell to next support level.
It's about how price is acting at levels.
ABOUT the trend, the pair is forming a nice up trend line, a good structure to analysis as well.
HAPPY TRADING!
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.