GBPJPY: Your Trading Plan For This Week 🇬🇧🇯🇵
GBPJPY reached a solid horizontal structure resistance last week.
The pair started to consolidate within a narrow trading range then.
To short wisely, I suggest waiting for a bearish breakout of its horizontal support.
You need an hourly candle close below 163.58 - 163.67 area to confirm the breakout.
Then, a bearish continuation will be expected at least to 162.1 level.
Alternatively, if the price breaks the resistance of the range to the upside, a bullish continuation will be expected.
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Related publications
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.