GBPJPY 30min Analysis January 14th, 2021
Price is currently consolidating in an ascending triangle.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 142.250. We will then wait for a retrace and for 142.250 to flip as support. Enter on strong bullish setups at this zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break our supporting trendline and the 141.800 handle. We will then wait for a retrace and for 141.800 to flip as resistance. Enter on strong bearish setups
Trade Scenario 1: Bullish - For us to go long we need to see price break above 142.250. We will then wait for a retrace and for 142.250 to flip as support. Enter on strong bullish setups at this zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break our supporting trendline and the 141.800 handle. We will then wait for a retrace and for 141.800 to flip as resistance. Enter on strong bearish setups
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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.