GBPJPY #5
This is GBPJPY on the 1HR timeframe, price had a strong push upward due to the FOMC impact today.
The overall trend on the 1HR is a bullish trend which we complemented with trendlines (upward and downward) forming like a rising wedge.
Price is presently approaching a high and psychology key level of 166.500 which could also form a confluence with a third touch rejection on the upper trendline.
WE REACT TO WHAT WE SEE
WATCH OUT
1. Upper trendline third touch rejection on the psychological key level of 166.500
2. Price action candlestick
3. Market Behavior
The overall trend on the 1HR is a bullish trend which we complemented with trendlines (upward and downward) forming like a rising wedge.
Price is presently approaching a high and psychology key level of 166.500 which could also form a confluence with a third touch rejection on the upper trendline.
WE REACT TO WHAT WE SEE
WATCH OUT
1. Upper trendline third touch rejection on the psychological key level of 166.500
2. Price action candlestick
3. Market Behavior
