Possible GJ Sell Idea!

GBP/JPY OANDA:GBPJPY


Looks to me that the GBPJPY             will struggle around the resistance heavily as it has tested it multiple times already and hasn’t broken through in the past. Who knows though maybe it will, you can never know? However more likely a sell looks more like a viable option, dropping heavily all the way to the 61.8% on the Fibonnaci which is a key support zone also. On the way down there is a second possible trade entry also midway at the first support zone , in case you get in late but wait for the pull back once it breaks the zone. Yet again it may not break the support and then test the resistance again, so who knows?

But overall, as I see it right now it looks like a very good trade.

By admin