GBP/JPY September 4th 2018
Gj is currently going up.
It is at the support level of 142.600
By looking at the 4 hour chart, we can see taking 5 candles and the support didn't break. Which indicates the sellers are getting exhausted and they are existing their selling position. Buyers are trying to coming in.
The pair can reach to 145.689(the last resistant level), and possibly break it to the next resistant level, 147.074.
This is the total of around 400 pips.
If we risk 1 dollar per pip, we aiming 400 dollars.
I do technical analysis as well as some fundamentals.
I read news to look at how price overall performance.
I suggest study both fundamentals and technicals even though technical analysis is the main focus, we still need to look at news, because news can highly affect price and sometimes price can change dramatically and be destructive to your trades.
It is at the support level of 142.600
By looking at the 4 hour chart, we can see taking 5 candles and the support didn't break. Which indicates the sellers are getting exhausted and they are existing their selling position. Buyers are trying to coming in.
The pair can reach to 145.689(the last resistant level), and possibly break it to the next resistant level, 147.074.
This is the total of around 400 pips.
If we risk 1 dollar per pip, we aiming 400 dollars.
I do technical analysis as well as some fundamentals.
I read news to look at how price overall performance.
I suggest study both fundamentals and technicals even though technical analysis is the main focus, we still need to look at news, because news can highly affect price and sometimes price can change dramatically and be destructive to your trades.
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