British Pound / Japanese YenUpdated GBP/JPY Struggles at resistance, time to fall?
Dear traders, if you remember, we bought GBP/JPY@180.80 level and hit our
profit target at 181.70 level, almost 300 Pips. However, as I had already
mentioned earlier, GBP/JPY is struggling at the resistance level.
We have multiple bearish candlesticks at the 4H resistance level. This opens
up the possibility of looking for sell entries.
In my opinion sell entries around 183.70 with target at 182.20 would be valid.
profit target at 181.70 level, almost 300 Pips. However, as I had already
mentioned earlier, GBP/JPY is struggling at the resistance level.
We have multiple bearish candlesticks at the 4H resistance level. This opens
up the possibility of looking for sell entries.
In my opinion sell entries around 183.70 with target at 182.20 would be valid.
Note
Still below the resistance level, probability of a fall increasing today
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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.