FX:GBPJPY   British Pound / Japanese Yen
Extremely Bearish week from GJ
Currently approaching next support 131.800 after breaking 2 of my supports without retracement.
A strong area where we may expect a retrace back towards 134 zone or even possibly 136 zone of the 61.8fib on 1hr time frame.

However should GJ not bounce and break through 131.800 we can look at it fall deeper.

A retrace is now overdue & we will have to just wait and see what the Market Open brings to the table. The chances are quite strong for a decent Bull set up from this area but its GJ it does what it likes. I also wouldnt be surprised of a possible touch to 131.500 just to hit few SL’s before it rises.

Just an idea


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