GBPJPY Trade Analysis
Current Trend: Uptrend.
Support Levels: 141.22.
Resistance Levels: 142.69.
GBPJPY Daily Chart
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GBPJPY Trade Ideas
Price action on the GBPJPY is now trading in a fairly steady trend higher.
As the attached daily chart shows, price has recently broken higher and out of a key resistance level. This level had been holding strongly as a higher time frame resistance with three rejections.
Now price has moved through this level we could look for it to act as a new role reversal and support level.
If price can make a quick retrace back lower we could look for new potential long trades and for price to make a new extended leg higher.
Long trades from this role reversal support would be inline with the trend and from a key daily chart support level.
GBPJPY 4 Hour Chart
USDCHF Trade Analysis
Current Trend: Intraday range.
Support Levels: 0.8823.
Resistance Levels: 0.8919.
USDCHF Daily Chart
USDCHF Trade Ideas
Whilst the overall trend on the USDCHF is lower, on the intraday charts such as the 4 hour time frame we can see a range beginning to form.
As the attached 4 hour chart shows, there is now a pretty clear cut range starting to form. There is a clear range high resistance and range low support area that are in play.
Whilst these levels continue to hold I will be looking to trade both sides of the market from both the range high and low.
If price continues the move back lower into the range support level, then I will start looking for bullish price action for new potential bullish range trades to get long.
USDCHF 4 Hour Chart
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