The previous instance of GBPJPY reaching this level occurred in 2015. On the weekly chart, there is evident supply established in August 2015, marked by a price drop from that level. The price has not revisited this level until the present. The specific supply level, highlighted in red above, presents a favorable opportunity to initiate a sell position when the price touches it.
This analysis is relevant for long-term traders.
This analysis is relevant for long-term traders.
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- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
www.citytradersimperium.com/