The GBPJPY has not been successful at breaking and remaining above the
major level of resistance at 156.60 since June 2016, which formed the high
of an area of consolidation.
Price really started to attack this level from October 2021 for a number of
months, but has now cleared this level by around 700 pips.
The candle for March is currently looking strong, and with only a few days
of the month left to go, we may see a close outside of the consolidation zone.
Price now has a lot of clear space to form a trend before the next major level
of resistance at 195.88, which is the high of June 2015.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
major level of resistance at 156.60 since June 2016, which formed the high
of an area of consolidation.
Price really started to attack this level from October 2021 for a number of
months, but has now cleared this level by around 700 pips.
The candle for March is currently looking strong, and with only a few days
of the month left to go, we may see a close outside of the consolidation zone.
Price now has a lot of clear space to form a trend before the next major level
of resistance at 195.88, which is the high of June 2015.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
