GBPJPY 30min Analysis January 5th, 2021
Price is moving sideways between our key structure zones.
Trade Scenario 1: Bullish - For us to go long we need to see price push to our key weekly level at 139.500. We will then look to enter on strong bullish setups/engulfing.
Trade Scenario 2: Bearish - For us to go short we want to see price retrace back to the 30min 200MA around 140.300. We will then look for strong bearish setups within our structure zone
Trade Scenario 1: Bullish - For us to go long we need to see price push to our key weekly level at 139.500. We will then look to enter on strong bullish setups/engulfing.
Trade Scenario 2: Bearish - For us to go short we want to see price retrace back to the 30min 200MA around 140.300. We will then look for strong bearish setups within our structure zone