AlkalineFX

GBPJPY - Break Back In

Long
OANDA:GBPJPY   British Pound / Japanese Yen
This pair suggested a breakout of the descending channel and introduced sellers into the market. We have now seen a structural shift and a re-entry into the channel, suggesting price is not ready to proceed to the downside. If we manage to remain above the structure marked, this could give us an opportunity to buy into the channel highs whilst fighting the retail sentiment.

Sentiment Data - 54% Selling

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