GBPJPY 30min Analysis March 11th, 2021
Price is between our value zones and we are looking for price to continue to the upside to our upper value zone.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to 151.600. We will then wait for price to find support and enter on strong bullish setups, first targeting our edge of value at 152.100.
Trade Scenario 2: Bearish - For us to go short we need to see price break below 151.600. We will then wait for a retrace and for 151.600 to flip as resistance. Enter on strong bearish setups, first targeting 151.300
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to 151.600. We will then wait for price to find support and enter on strong bullish setups, first targeting our edge of value at 152.100.
Trade Scenario 2: Bearish - For us to go short we need to see price break below 151.600. We will then wait for a retrace and for 151.600 to flip as resistance. Enter on strong bearish setups, first targeting 151.300