Hey guys,this is the first time of me publishing idea on Tradingview & the first post of Forex Currency Analysis.
The pair we are seeing is the GBPJPY, from the daily chart we can see the GBPJPY has dropped from the high of 156 to the low of 140.
The 140 area has been a very strong demand zone, where buyers are placing huge Long orders to prevent the sellers dumping.
After the bounce from 140 area, we see a steady uptrend towards the current price 148 area.
We may see the Uptrend will keep going up until we hit the Supply area of 153.
A long from here with a StopLoss at 147 & TP @ 153 could be a quite attractive trade with R:R ratio of 2.75.
Here is just my analysis,dont take it as a financial advice :)
& dont forget tonight's NFP where we could see a huge movement incoming.
Happy Trading :D
The pair we are seeing is the GBPJPY, from the daily chart we can see the GBPJPY has dropped from the high of 156 to the low of 140.
The 140 area has been a very strong demand zone, where buyers are placing huge Long orders to prevent the sellers dumping.
After the bounce from 140 area, we see a steady uptrend towards the current price 148 area.
We may see the Uptrend will keep going up until we hit the Supply area of 153.
A long from here with a StopLoss at 147 & TP @ 153 could be a quite attractive trade with R:R ratio of 2.75.
Here is just my analysis,dont take it as a financial advice :)
& dont forget tonight's NFP where we could see a huge movement incoming.
Happy Trading :D