GBPJPY 30min Analysis January 14th, 2021
Price is currently consolidating in an ascending triangle.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 142.250. We will then wait for a retrace and for 142.250 to flip as support. Enter on strong bullish setups at this zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break our supporting trendline and the 141.800 handle. We will then wait for a retrace and for 141.800 to flip as resistance. Enter on strong bearish setups
Trade Scenario 1: Bullish - For us to go long we need to see price break above 142.250. We will then wait for a retrace and for 142.250 to flip as support. Enter on strong bullish setups at this zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break our supporting trendline and the 141.800 handle. We will then wait for a retrace and for 141.800 to flip as resistance. Enter on strong bearish setups
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