GBPJPY ( BREAKOUT DEMAND ZONE ) ( 4H )GBPJPY
HELLO TRADERS
Tendency , the price is under bearish pressure until trade below turning level .
TURNING LEVEL : the price of turning level around 203.463 , indicates the price trade below this level reach a support level , but if trading this level reach a resistance level .
RESISTANCE LEVEL (1) : around 205.601 , for reach this level will be breaking turning level .
RESISTANCE LEVEL (2) : around 207.938 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1)
SUPPORT LEVEL (1) : support level at 201.362 , for reach this level will be trading or stabilizing below turning level .
SUPPORT LEVEL (2) : support level at 199.532 , for reach this level will be breaking by open 4h candle below support level (1) .
CORRECTIVE LEVEL : the price retest before dropping at 203.463 .
TARGET LEVEL :
RESISTANCE LEVEL : 205.601 , 207.938 .
SUPPORT LEVEL : 201.362 , 199.532 .
Gbpjpytrendanalysis
GBPJPY and EURJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Forming Head & Shoulder Pattern For Big Down SideGBPJPY is Forming Head & Shoulder Pattern, which indicates that trend might get reversed from the current price level. As it is slowly forming head & shoulder pattern, we might see some consolidation before getting a big downside move in GBPJPY one can trade for the short side on GBPJPY for the longer term.
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