GBPJPY Analysis (16th April 2024)

Market Analysis PT2/2 (16th April 2024)

GBPJPY Analysis

On the 1 hour timeframe, price action created a bearish Change of Character after rejecting off a psychological level at 192.700.

In the process of forming a 1 hour CHOCH, price also created as 15 minute orderblock that hasnt been tested.

I am expecting price to retrace towards the 15 minute unmitigated orderblock before looking for potential sell confirmations during the london session.

Do keep a lookout for this potential set up!