Hi Traders, GBPJPY has been in a 'mess' recently, long-term uptrend but short-term downtrend.
In situation like this, I will be extra cautious prior to taking any trades, and to make sure I ONLY take trades around significant level not "distractions".
162 - 162.20 is the only resistance area where I think if sellers were to defend the short-term downtrend, it will hold below it.
Let's see if we can get more confirmation around 162 and get another wave down towards the previous low.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
In situation like this, I will be extra cautious prior to taking any trades, and to make sure I ONLY take trades around significant level not "distractions".
162 - 162.20 is the only resistance area where I think if sellers were to defend the short-term downtrend, it will hold below it.
Let's see if we can get more confirmation around 162 and get another wave down towards the previous low.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
