GBP/JPY-1 Hour analysis
Hello everyone!
-On a 1 hour chart, we can see that the price is moving within a descending channel and we can also see that the price made a breakout and then rejected in a bearish direction last few hours.
-Now the price is sitting at the resistance line of a descending channel and the price formed a Doji candle.
-On a 4-hour base, JPY is stronger than GBP and on a daily base, GBP is stronger than JPY but both currencies are losing their power.
-If JPY remains stronger on a lower time frames then we can expect further bearish movement and if GBP gains more power then we can expect bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 1 hour chart, we can see that the price is moving within a descending channel and we can also see that the price made a breakout and then rejected in a bearish direction last few hours.
-Now the price is sitting at the resistance line of a descending channel and the price formed a Doji candle.
-On a 4-hour base, JPY is stronger than GBP and on a daily base, GBP is stronger than JPY but both currencies are losing their power.
-If JPY remains stronger on a lower time frames then we can expect further bearish movement and if GBP gains more power then we can expect bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.
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.