GBPJPY Analysis 23/1/21
Daily outer channel (red)
Ascending triangle forming on 4 hour (orange)
Resistance 142.200
Could form a breakout to the upside and target outer daily channel.
Or could form a fakeout and catch people on the wrong side of the market before selling all the way down - as it is an ascending channel.
Will wait to see what happens at 142.200.
Ideas/opinions would be very much appreciated as I am new to this so any feedback will be taken into consideration!
Ascending triangle forming on 4 hour (orange)
Resistance 142.200
Could form a breakout to the upside and target outer daily channel.
Or could form a fakeout and catch people on the wrong side of the market before selling all the way down - as it is an ascending channel.
Will wait to see what happens at 142.200.
Ideas/opinions would be very much appreciated as I am new to this so any feedback will be taken into consideration!
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