GBPJPY 30min Analysis February 8th, 2021
Price is currently consolidating around our key weekly level of 144.580.
Trade Scenario 1: Bullish - For us to go long we want to see price push to the upside above 144.640. We will then look for a quick retest and for price to bounce off 144.640. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our key weekly of 144.580. We will then wait for a retrace and for 144.580 to act as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we want to see price push to the upside above 144.640. We will then look for a quick retest and for price to bounce off 144.640. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our key weekly of 144.580. We will then wait for a retrace and for 144.580 to act as resistance. Enter on strong bearish setups.
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