GBPJPY Buy Idea

27 nov 2023

GBPJPY had a BoS, which means the resistance now became the support, as on the screenshot we can see that the RSI is severely over brought so it will retrace down to that support/entry zone and at the same time level out the RSI, then it will use the support and bounce up and start making more highs. Another possibility is that it might go down to the 187.500 levels because GBPJPY usually has patterns of going down to the previous HigherHighs in order to make HigherLows and continuing up.