GBPJPY long-term make or break
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GBPJPY is hitting the 153 long-term falling trend line resistance after a bounce from 149 support. A break above 153.300 with a price action confirmation is necessary for a breakout higher and a change of the long-term falling trend. A rejection here would mean a downside reversal.
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The weekly chart shows a strong bounce continuation from 149, but we need to see a confirmed break above 153.300 for an upside reversal continuation. The RSI is vital, but we need more confirmation. If rejected on the downside, there is not much resistance till 149.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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