Good day traders,
Hello traders, what are your trading plans for Tuesday?
Personally, I will be looking at:
1. GBP/JPY
GBP/JPY was analysed on Tuesday, if you missed it, you can check here
GBP/JPY on the daily chart is presently bullish, and price is most likely on it’s way to the next possible resistance level (145.776).
On the 4 hours time frame, price’s back and forth movement has formed an ascending channel. Price is currently resting on a key support level (143.714).
My bias is bullish, and will be looking for a buy signal to resistance level 144.647.
That said, price could also break the current support level and head down to the daily support level (142.656), hence strict money management rules should be applied.
Do have a great day ahead
Wednesday daily close at 142.89 > this pair going to 140.90 and below today
Hello Kadek,
I am mindful of support level 142.656. It has to be broken first, before GBP/JPY has any chance of going to the next support level.
Thanks for your view