GBPJPY Intraday Analysis for 5 March 2015

GBPJPY now reached support level and bouncing to next resistance area at 183.7+- area. As we can see, there is strong resistance and role reversal area.

So from my comprehension, price will bounce back at the 183.7xx area and drop down straight to 182.2xx area where the last critical support there.

1. Wait for the retracement
2. After reached the resistance, wait for price action
3. Once confirm, entry with recommended SL and TP

Thanks,
Syazrina