GBP/JPY Trend analysis Feb 16
The thickest yellow line is where you want to focus on, since its the break line for wether a sell or buy.
Price was struggling for days try to climb above the line and it couldn't, then had a big dropping.
End of Friday, price has a huge pull back for sells. And price ends right below this yellow line.
So next week watch carefully how price is playing around this line.
If it break through , it will be a buy, and you gonna target next resistant level.
If it can not break through, then it will be a sell to next support level.
It's about how price is acting at levels.
ABOUT the trend, the pair is forming a nice up trend line, a good structure to analysis as well.
HAPPY TRADING!
Price was struggling for days try to climb above the line and it couldn't, then had a big dropping.
End of Friday, price has a huge pull back for sells. And price ends right below this yellow line.
So next week watch carefully how price is playing around this line.
If it break through , it will be a buy, and you gonna target next resistant level.
If it can not break through, then it will be a sell to next support level.
It's about how price is acting at levels.
ABOUT the trend, the pair is forming a nice up trend line, a good structure to analysis as well.
HAPPY TRADING!
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