The 5%ers' Blog

Will The GBPJPY Price Successful To Breakout The Resistance Zone

May 10, 2019 | 9:01 am | The 5%ers' Blog
May 10, 2019 | 9:01 am
The 5%ers' Blog

Friday 10/05/2019

As we can see in the 1H chart, GBPJPY has started this week with almost 100 pips gap down and continue with a downtrend of 400 pips.

if we look for the reversal signal, it will be the Resistance Zone, if the price will break out the resistance zone it indicates that the bearish momentum ended and it’s the time to look for buy position.

Therefore, if the price will break the resistance it will be A good reason to look for a price action setup for buy position.

the supply above will be the first target and the supply at the top will be the final target and also a great level for sell position.



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