Using the 4hour timeframe, GBPJPY is near a support and a week-support channel. Im expecting price to tap support and bounce up short-term. However, a break below the day-support with resistance would see a strong breakout downwards.
Watch out for GBP CPI Y/Y news at 2pm HKT
Watch out for GBP CPI Y/Y news at 2pm HKT
Trade closed: target reached
Trade hit 68.9 pips upon TP at 4 hour support. For those who missed the trade, wait for market correction and trade it back up
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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.