This pair managed to break to the upside after ranging for 6 days between 121.75 and 123.20, then it also broke next resistence @ 124.50ish then ranged on friday between 124.50 and 125.00 forming by the way a bullish flag setup providing us with a nice breakout trade opportunity.
The range support and resistence will be our levels of interest, in case of bullish breakout we will be tragetting 125.50 then 126.75 which is the next major resistence.
In case of bearish breakout the targets will be 124.00 then 123.20 supports, though it will be better to have confirmation of both support and ascending Channel support breakout to short this pair.
The range support and resistence will be our levels of interest, in case of bullish breakout we will be tragetting 125.50 then 126.75 which is the next major resistence.
In case of bearish breakout the targets will be 124.00 then 123.20 supports, though it will be better to have confirmation of both support and ascending Channel support breakout to short this pair.
GBPJPY - 1H
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