Hi everyone GBP/JPY has had a little bounce today breaking the 21ema on the 1h timeframe.
Its been rejected at the swing high but if it closes below 151.540 on this candle it could be a failed bounce and revisit the lows.
Bullish side - The rsi is making high lows so thats a sign that this downward trend is over, there is a green spot on the 4h
Bearish side - We are still making lower highs on the 1h timeframe
Overall - If it closes below 151.540 on the 1h i can see it revisiting the lows but if not i can see it testing 152.220 due to the green spot on the 4h.
Please Like and follow and happy trading!!! bye!
Its been rejected at the swing high but if it closes below 151.540 on this candle it could be a failed bounce and revisit the lows.
Bullish side - The rsi is making high lows so thats a sign that this downward trend is over, there is a green spot on the 4h
Bearish side - We are still making lower highs on the 1h timeframe
Overall - If it closes below 151.540 on the 1h i can see it revisiting the lows but if not i can see it testing 152.220 due to the green spot on the 4h.
Please Like and follow and happy trading!!! bye!