GBPJPY 30min Analysis April 7th, 2021

Trade Scenario 1: Bullish - For us to go long we want to see price break above our point of control at 151.100. We will then wait for a retrace and for 151.100 to act as support. Enter on strong bullish setups, first targeting our next point of control around 151.300.

Trade Scenario 2: Bearish - For us to go short we want to see price break below our edge of value at 150.750. We will then wait for a retrace and for 150.750 to act as resistance. Enter on strong bearish setups, first targeting our edge of value around 150.100.