#GBPJPY near 4h timeframe resistive area one again
Updated
look where price is one more time at an area where rejected clearly twice before plus it's a structural point too ( it use to be support but changed to resistance ) if you look at the left side of the chart. this cluster of resistance add to the importance of the area.
But the thing is matter most is not to rush into a trade as we have CPI news today and depends on what the numbers going to be it can cause price to break the resistance to the upside or to reject from.
If you want to have more comprehensive idea about what to expect of news are going to be released today and tomorrow I would recommend you to read the idea linked to this article.
But in summery, if CPI comes out equal or lower the prediction it would be good JPY and we can expect the downside move from GBPJPY .
But the thing is matter most is not to rush into a trade as we have CPI news today and depends on what the numbers going to be it can cause price to break the resistance to the upside or to reject from.
If you want to have more comprehensive idea about what to expect of news are going to be released today and tomorrow I would recommend you to read the idea linked to this article.
But in summery, if CPI comes out equal or lower the prediction it would be good JPY and we can expect the downside move from GBPJPY .
Trade active
well CPI did actually comes out lower than expectation and as a result we saw JPY gained s much strength against all different pairs specially against GBP which we discussed about it in here.
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