GBPJPY 30min Analysis December 22nd , 2020

Trade Scenario 1: Bullish - Price is starting to break out of our flag pattern. To look long we still want to see price break above the 200MA on the 30min timeframe. We will then look for price to retrace/consolidate at or above the 200MA. Enter on any bullish engulfing/momentum.

Trade Scenario 2: Bearish -To look short we need to see price break below our demand zone with conviction. We will then look for a LH to form at or below 138.300