Weekly Price Action Setups & Trade Ideas | Jan 20 - Jan 25

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Chris Capre’s current open price action and ichimoku trades: EURUSD, GBPUSD, USDMXN, USDJPY, BIR, TL

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GBPJPY – Strong Rejection + False Break @ LT Support (Daily chart)

Price Action Context

After the flash crash in early January, bulls heavily rejected lower prices, resulting in a false break of two LT support zones (only upper one shown in chart). If bulls successfully can defend the closest LT support, a move higher towards 148.60 is likely IMO.

Trending Analysis

Bias changed to neutral and bulls …

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