GBPJPY 30min Analysis February 25th, 2021
Price is currently between value areas. We are waiting for a break in either direction towards are points of control.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 149.100. We will then wait for a retrace and for price to find support at 149.100. We will enter on strong bullish setups, targeting previous highs around 150.00
Trade Scenario 2: Bearish - For us to go short we want to see price reject around 149.00. We will enter on strong bearish setups off this level, first targeting 148.400.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 149.100. We will then wait for a retrace and for price to find support at 149.100. We will enter on strong bullish setups, targeting previous highs around 150.00
Trade Scenario 2: Bearish - For us to go short we want to see price reject around 149.00. We will enter on strong bearish setups off this level, first targeting 148.400.
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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.