GBP/JPY - reversal at resistance or a new support?
We are awaiting for confirmation for the following scenario:
1. Price retraces to support zone (trend line and horizontal support) before reversing back up
2. If horizontal trend line and horizontal support does not hold, we could see more bearish movement in the short term.
3. Break of the resistance area, wait for retest confirmation to enter long to the next resistance area as TP.
Cheers
1. Price retraces to support zone (trend line and horizontal support) before reversing back up
2. If horizontal trend line and horizontal support does not hold, we could see more bearish movement in the short term.
3. Break of the resistance area, wait for retest confirmation to enter long to the next resistance area as TP.
Cheers
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