GBPJPY What When Out of the Range?

24 thg 11, 2019

Hi guys, here is my analysis about GBPJPY.

How can you see GBPJPY was pushing up very strongly.
Now is five weeks that it is moveing trough two zones:
RESISTANCE ZONE = between 141.493 and 141.293.
SUPPORT ZONE = between 139.130 and 138.972.

What will happen next?

By my point of view there are two possible scenarios:

• Price broke down and fall to the trendline that follow the uptrend (TP: use trailing stop or close at the trendline touch);
  
• Price broke up and continue to push up (TP: use trailing stop).
  

To enter this trade I would like to wait for a retest of the support or of the resistance broken.

For any question or suggestion, comment below.
Thanks for reading.