GBPJPY consolidating here at a noticeable 4 hour support/resistance zone. JPY appears strong this week and for that reason we may see a drop to the downside from the current consolidation area.
By observing the daily timeframe I can also see price has broken the ascending trendline and is holding well beneath.
I will be waiting to see how price action develops with this following the result of the Bank of England interest rate decision today, before considering an entry.
By observing the daily timeframe I can also see price has broken the ascending trendline and is holding well beneath.
I will be waiting to see how price action develops with this following the result of the Bank of England interest rate decision today, before considering an entry.