GBPJPY weekly analysis 🦐

GBPJPY has been trading between 2 structures since March 2021.
After such a long range the price is now to the 158 area and possibly break above.
I can see how after the previous test price has turned at the 0.786 Fibonacci level and creates a sold green candle afterward.


How can i approach this scenario?

I will wait during next week for a break of the resistance and in that case, i will move on the lower timeframe to spot and entry point for a long order according to the Plancton's academy rules.

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Follow the Shrimp 🦐

Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.


Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.

הערה:

testing a confluence area

הערה:

a clear break!

הערה:

bullish continuation as expected

הערה:

Pushing P 😎

הערה:

the ascending trendline holds the uptrend at the moment, we see a strong bullish momentum anyway

הערה:

trendline rejection