Well, as we see, according to the previous analysis, we said that if the price loses its support, it can fall to the announced levels, which is exactly what happened ... Now we have to see which trend the price will follow starting next week. Personally, I think the price will start to rise again with a 60% probability ... and with a 40% probability, the second...
Looking at 3 different scenario's here for GJ. A deep pullback is needed to clear out the highlighted order block. Orders can be taken at the open, 50%, or the refined entry.
50% Entry 141.601
Refined entry - 141.401
SL 141.261
TP 144.202
GBP JPY Analysis – British Pound Japanese Yen Forex Analysis - GBP JPY Forecast
(Week 19/10/20)
Prices are moving inside a channel, based on Technical Analysis the idea is to go long for a long term investment.
Short term the idea is to hold before going long.
o Divergence
o Price is unlikely to push up with the current price action that it's showing
****risk management is essential in making thru this game, we aint like banks, our capital is limited so 2% risk per trade, ladies****
THE BULLISH LEG I CALLED IS NOW COMING TO AN END AS I BEGIN PREPARING MY SHORTS. I WOULD HAVE LOVED THE MARJET TO PUSH JUSTA BIT HIGHER AND TAP MY TRENDLINE BUT OUR DAILY CANDLES ARE TURNING BEARISH WHICH ALLOWS ME TO START PLACING SHORTS
