Let's dissect the GBP/JPY trading dynamics using the concepts of buying wholesale and selling retail:
Weekly View: - Current price: 186.61 - Previous resistance: 188.2 - Wholesale zone: 180.9 - Simplified view: The price is near a previous high point. If it drops, it might find support around 180.9, which is like buying wholesale.
Daily Picture: - Resistance: 187.5 - Wholesale support: 179.775218 - Retail zone: 187.5218 - 189.008 - Simplified view: The price is close to a resistance point. If it fails to break above 187.5, it might drop, finding support around 179.775218, like buying wholesale.
Summary: - The idea is to buy when prices are low (wholesale) and sell when they are high (retail). - Currently, it's a good idea to consider selling GBP/JPY as it's nearing resistance points. - Look for opportunities to buy when it's close to support zones. - Always be cautious and manage risks to handle potential losses effectively.
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