GJ More Growth?
After a sharp drop, GJ has started an upside move and currently it is bouncing on the ascending trend line.
There is a resistance zone around 153.735 which has been tested by price for several times:
If price can close a bullish candle above this level, we can expect more rise for GBPJPY, first to 154.00, and in the case of an upside breakout on 154, the next target would be around 154.280
On the other hand, if price can’t be fixed above the resistance zone and got rejected, we should wait for the trend line’s breakout and the support zone at 153.100 to enter short.
There is a resistance zone around 153.735 which has been tested by price for several times:
If price can close a bullish candle above this level, we can expect more rise for GBPJPY, first to 154.00, and in the case of an upside breakout on 154, the next target would be around 154.280
On the other hand, if price can’t be fixed above the resistance zone and got rejected, we should wait for the trend line’s breakout and the support zone at 153.100 to enter short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.