GBPJPY 30min Analysis April 8th, 2021

Trade Scenario 1: Bullish - For us to go long we want to see price break above our edge of value at 151.150. We will then wait for a retrace and for 151.150 to act as support. Enter on strong bullish setups, first targeting our edge of value around 150.700.

Trade Scenario 2: Bearish - For us to go short we want to see price break below our edge of value at 150.150. We will then wait for a retrace and for 150.150 to act as resistance. Enter on strong bearish setups, first targeting our point of control around 149.500.