1. Support area of 45.60 was broken.
2. Retest of broken support now turned resistance area.
3. Retest of resistance now turned support area.
Trade Idea
4. If support holds, and candle break above the 48.20 candle's high. We might see price tapping 55.
OANDA:GBPJPY
Higher Time Frame Trend: Bullish
- Bias: Longs
- Wait for pullbacks or break and retest of market structure for entry.
- Entry at 15min TF
- 2 Trade Ideas
1. Trade Idea ( wait for pullbacks)
- As we can see, there is a bullish engulfing candle that broke the consolidation.
- For this first trade idea, we would wait for price to pullback to...
- GBPJPY has reached a once broken support now turned resistance area.
- We shall see how price reacts to the resistance area. We could see a minor pullback from the resistance area or we could see a breakout from the resistance and retest of the resistance.
