GBPJPY 23rd August 2021 London Session
Weekly:
Closed previous week right at previous weekly support area. Trend is bearish, but won't be surprising to see a bounce off the support area.
Daily:
Previous daily closed red doji - potential reversal sign. We kicked off today with a strong green candle pushing into the yellow box zone. (resistance)
4hr:
Currently bullish but note that we're hitting the bearish trend line (daily & 4H)
For continuation of bullish momentum, break above yellow box and retest would be a good sign.
1hr:
Entries are break and retest of the marked green lines
Closed previous week right at previous weekly support area. Trend is bearish, but won't be surprising to see a bounce off the support area.
Daily:
Previous daily closed red doji - potential reversal sign. We kicked off today with a strong green candle pushing into the yellow box zone. (resistance)
4hr:
Currently bullish but note that we're hitting the bearish trend line (daily & 4H)
For continuation of bullish momentum, break above yellow box and retest would be a good sign.
1hr:
Entries are break and retest of the marked green lines
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