Forex Strategies | Price Action Blog

Hello Price Action Traders.

Gbp/Jpy

The pair formed a Pin Bar last Friday close to the 153.80 area.  The market however has a more bullish bias and is recommended not to go short but to wait until the price pullback toward the 152.30 support area where, if price will form a price action signal it could be nice to create a trading strategy with a good possible risk: reward ratio. The first resistance zone is the 156.50.

 

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