Technically, I see this GBPJPY pair has entered a price position that is still feasible to take into account its entry point.
Let's look at the chart picture GBPJPY 4 The following Time Frame before we analyze:
Let's analyze using Price Action analysis, in the market trend GBPJPY is still in a bullish / uptrend condition, but we also have to anticipate a trend reversal if the price breaks the support area above and also price consolidation.
In the history of the candle, we can look for Buy opportunity, but to be more objective, I will present an analysis for buy or sell entries.
When we look at the chart above, the Buyer pressure (the length of the Green candle) slowly increases the price without being able to be opposed by the Seller pressure (the length of the Red candle) and forming a Higher Low.
This indicates that the Buyers still dominate the formation of certain price levels. However, we still can find opportunities in this GBPJPY pair.
In the picture, I determine the Resistance Area through two lines above the price (142.97 - 142.69), for the Support area, we can see through two lines below the price (141.64 - 141.33).