GBPJPY Analysis (18th April 2024)

Market Analysis PT1/2 (18th April 2024)

GBPJPY Analysis

On the 4 Hour timeframe, price action has created a WCR.

This is a vaild WCR as it meets all 3 criterias of:
- Range on the 1hr/4hr/Daily timeframe
- Range is at least 100-150 Pips wide
- More than 2 taps on Each Support/Resistance.

Looking at the 1 hour timeframe, price action has created a 1 hour Change of Character after failling to break past resistance level. What i am personally looking for is for price to sell reject of either the gold fib level from the swing high to the swing low, or come up alittle higher to retest the 1 Hour Orderblock before looking for sells.

Once one of these 2 areas of interest has been tapped, i will be looking for 5 minute/ 15 minute Change of Character before looking to sell all the way down to the support.