DJW1998

GBPJPY - 1H CHART ANALYSIS

FX:GBPJPY   ポンド/円
Hi guys,

Please see my GBPJPY 1H timeframe chart analysis.

As we can see the price was testing support around the 154.500 region and was struggling to break through with 2/3 touches in that area but we have now broken through and the price is rising back up which could potentially now be resistance and give us a rejection to the downside.

Not actioning any trades with this yet but I will be watching closely to see if we get a break back through or if we get a rejection back to the downside, I will be waiting for a potential pivot candle near resistance followed by a bearish candle to give me confirmation to enter the trade.

I will update this idea as price moves over the next 2/3 candles.

Any likes and comments would be appreciated.

DWFX
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