The GBPJPY currency pair is currently trading within a range on the 4-hour chart, with a floor of around 156 and a ceiling around 162.
The price action is forming higher lows beneath a resistance level with equal highs, indicating a potential breakout in either direction.
The presence of liquidity zones above the current price suggests that they could act as a magnet for price movement.
If the price manages to break above the current structure, one could potentially apply the MTB Plancton's strategy for a favorable risk-reward trade.
The price action is forming higher lows beneath a resistance level with equal highs, indicating a potential breakout in either direction.
The presence of liquidity zones above the current price suggests that they could act as a magnet for price movement.
If the price manages to break above the current structure, one could potentially apply the MTB Plancton's strategy for a favorable risk-reward trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.