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🟢Forex Pair:
GBP/JPY
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting trendline, moving up until a strong resistance zone at about 142.500.
It got many rejections on that level and it is currently re-testing the same zone.
In the daily perspective, a red pin bar just around the resistance zone could be an interesting sign of weakness and market reversal.
🔴Conclusion:
I'm confident to see the price going down until the next support zone and eventually even more if it will be able to break its main trendline.
Once I'll get a proper confirmation of market reversal, I'll open my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
GBP/JPY
⚪Technical Analysis:
Since the beginning of January 2021, the price has been following an interesting trendline, moving up until a strong resistance zone at about 142.500.
It got many rejections on that level and it is currently re-testing the same zone.
In the daily perspective, a red pin bar just around the resistance zone could be an interesting sign of weakness and market reversal.
🔴Conclusion:
I'm confident to see the price going down until the next support zone and eventually even more if it will be able to break its main trendline.
Once I'll get a proper confirmation of market reversal, I'll open my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
