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Trade of the Week - May 8th 2023 - GBPJPY Sells


GBPJPY

GBPJPY pushed up during Asian + London sessions and broke the previous daily's highs.

Candles respected 171 area and formed resistance



GBPJPY created a small range at the highs and closed bearish below minor support setting up the sells to retrace the move up

GBPJPY forex trade with analysis
GBPJPY Trade breakdown

Entry - 170.90

SL - 171.05

TP - 170.41


Key level retested

Resistance respected

Support formed


Set up

Closure below support





Entry was at the break of the low

Stop loss was previous candle high

TP - H1 support - 50pips


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