GBPJPY Pound and Yen Battle : SHORT!! If support 132.4 BREAKS!
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GBPJPY Pair Analysis:
In the H4 and H1 charts we can see GBPJPY pair testing support @ 132.4 regions, with long rejection wicks to the upside and long wicks to the downside, current momentum is more bearish than bullish, with the world's third largest economy JPY reopening, strengthening the yen especially with the Japanese promises of more government payouts and monetary support for local businesses.
Right now in the shorter time frame charts, there seems to be some consolidation @ support level of 132.293 regions (also long upper and lower bearish wicks candles in H4), we will be looking for a breakdown at this side for a confirmation to enter a SHORT OPPORTUNITY towards the next strong support level @ 131.4, near the bottom of the channel line.
As always, trade safely with stop loss orders and feel free to like and comment if you enjoyed my idea!
Best regards,
GOLD D ROGER
GBPJPY Pair Analysis:
In the H4 and H1 charts we can see GBPJPY pair testing support @ 132.4 regions, with long rejection wicks to the upside and long wicks to the downside, current momentum is more bearish than bullish, with the world's third largest economy JPY reopening, strengthening the yen especially with the Japanese promises of more government payouts and monetary support for local businesses.
Right now in the shorter time frame charts, there seems to be some consolidation @ support level of 132.293 regions (also long upper and lower bearish wicks candles in H4), we will be looking for a breakdown at this side for a confirmation to enter a SHORT OPPORTUNITY towards the next strong support level @ 131.4, near the bottom of the channel line.
As always, trade safely with stop loss orders and feel free to like and comment if you enjoyed my idea!
Best regards,
GOLD D ROGER
