2 Possible scenarious
GBPJPY 1H Technical.
Right now it looks like price are going back to 138.000 area, but maybe it's fake because for clear GBP movement we need to wait untill Londom market opens.
But in any case... When price will reach this 138.000 area, then 2 possible things could happen.
Bounce down again or continue of uptrend. If price goes above this 138.00 with strong bullish candles, then it is clear that price will move up even more. If rejection will start then more likely it will try to go near below trend line.
Right now it looks like price are going back to 138.000 area, but maybe it's fake because for clear GBP movement we need to wait untill Londom market opens.
But in any case... When price will reach this 138.000 area, then 2 possible things could happen.
Bounce down again or continue of uptrend. If price goes above this 138.00 with strong bullish candles, then it is clear that price will move up even more. If rejection will start then more likely it will try to go near below trend line.
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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.