AlkalineFX

GBPJPY - Not Buying It

Short
FX:GBPJPY   British Pound / Japanese Yen
I would think the majority of retail will now be expecting buying continuation after seeing this 4-hour structure break and re-test. Personally, I am more inclined on selling pressure down into the key level marked. This will wipe out the majority of retail SL's before flying to the upside. My current bias is bearish but I am happy to flip biases if we see a close above the horizontal line marked.

Comments

Same as my analysis, though I expect for the price to reach 136.8 before bouncing up.
+1 Reply
Cool. Agree with one too, although the bear target might not be as deep.
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