mdr300896

GBPJPY 15M 02/05/2023

Short
FX:GBPJPY   British Pound / Japanese Yen
Currently, on the 15-minute timeframe, we are in a bearish trend formed by two changes in structure. Therefore, we are currently in a bearish range that goes from 171.604 to 169.952, with the latter being the liquidity point of the current bearish range. We have a demand zone in the area of 171.559 to 171.382, and the second zone is between 172.328 and 172.162. We could expect a reaction in both zones, provided we observe how the price orders approach these areas. Alternatively, we could wait for these ranges to be liquidated and broken to establish a new bullish trend and liquidate the liquidity points of the previously established ranges.
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