GBPJPY
The pair is currently retesting the 1st Quarter Point of 152.250 price which do coincides with 61.80%
Fibo Level and also a major supply zone. There is a rejection with the current candle which is forming a shooting
star. We have to wait for the new candle to form on 1HR chart before we can decide the direction. However, Long position
is not recommended at this point. We can anticipate a break to the South towards 150.400 price which is the main support area
and the move will produce 160 pips if we go short at 152.000 price range.
This is not a trading advince.
The pair is currently retesting the 1st Quarter Point of 152.250 price which do coincides with 61.80%
Fibo Level and also a major supply zone. There is a rejection with the current candle which is forming a shooting
star. We have to wait for the new candle to form on 1HR chart before we can decide the direction. However, Long position
is not recommended at this point. We can anticipate a break to the South towards 150.400 price which is the main support area
and the move will produce 160 pips if we go short at 152.000 price range.
This is not a trading advince.