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Forex Price Action – GBPJPY Pin Bar Holds | Feb 4th
Yesterday in my weekly FX market commentary, I talked about the pin bar on the 4hr chart off the key role reversal level around 144.75 as being a critical support to look for potential longs. Today the pair challenged the exact same pin bar lows and held, now bouncing over +90 pips so hopefully you profited from that as did our forum members.
The range still dominates for now with 146.50 being the ceiling while 144.84 is support. A break of the downside suggests the trend is weakening, while an upside break will likely add fresh bulls into play.
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Make sure to check out my latest article End of A Trading Day/Week – What Are You Doing?
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