DislikedWell it looks like 212 did end up holding as firm resistance. Im not too sure what to be looking at here as it could have just rejected to test again and possibly break. The daily got the 5 sma retracement that it needed, so now I am not sure that we would see any higher of a level for price. On the 4 hour charts, we faced resistance and reverted away and so this would normally tell me that we will be moving lower, however with the low price that we were at on the gbp/jpy I could see a lot of buyers having been lured into the market hoping to see a larger retracement. Any thoughts or comments?
On another note, this next 4 hour bar definitely has potential to end bullishly. If it would, then I would only expect to see another attempt at the resistance of 212.Ignored
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