Short Term Sell opportunity for GBPJPY

16 feb

It appears that the GBPJPY price is heading towards the supply above, as evident on the 15-minute chart. This supply level signifies a notable imbalance between buy and sell orders, contributing to the rapid decline in price. It presents an opportune level to contemplate initiating a sell position, especially upon the initial contact with the price. This consideration holds particular relevance for short-term or intraday traders.