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Long Term Price Action Analysis For GBPJPY 04/01/2019

price action analysis gbpjpy 4-1

2 days ago, all the JPY pairs  drop down very fast and strong diving which create for in all of them a fresh new supply above, I decided to analyze the GBPJPY because his price action Picture is the clearest for me, also this pair have the best Risk Reward potential, as we can see on the daily chart, above us there is a great supply for long-term sell position, this Supply is a dramatic one since it’s broke out a strong support resistance zone which we can on the weekly chart, I’ll sell at this supply if the price reach there, and the target for this position Will be 129.00 zones, which is about 1000 pips below.

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