I believe that GBPJPY will start the week off bullish. As we can see, we are at a pinnacle point that can be see two ways. A double top (followed by a sell off) or a break of resistance and formation of a new support. As you can see, we have strong volume being pumped into this pair with the engulfing candle that shoots past our resistance. From here we see a retest and price sitting at the 141 level. The last candle of the week closed with minimal volume, therefore if we see a strong opening candle I will be initiating in a long trade, targeting previous levels.
Remember this is just my opinion, take it with a grain of salt and use proper risk management.
Please comment, like and follow so I can continue to provide helpful content.
HAPPY TRADING
-MATT
Remember this is just my opinion, take it with a grain of salt and use proper risk management.
Please comment, like and follow so I can continue to provide helpful content.
HAPPY TRADING
-MATT