GBPJPY has broke its counter trend and has also broke out a S/R lvl @ 150.318 i am simply looking for a retest of the underside of this lvl and if price action looks clear ( hammer candles, shooting starts , engulfings etc) i will be looking to short this into recent lows aiming for 149.386
confluences for this trade
1. trend break with acceptance below
This pair is yet to tap into the low of the Asian Range, although it is trading within its most recent order block, I do think it is likely that a sweep of the lows will come before we begin to target some upside levels.
According to market sentiment 55% of retail is selling GBPJPY.
When price hits 155 things are going to get dangerous and a massive explosion is going to happen! Bulls are going top push price into this 155 level then from there bears will take over and massively push price down.
The reason 155 is such a key level is self explanatory from looking at my chart, but you can see the 155 level has been used a number of times...
GBPJPY WEEKLY FORECAST. Starting on the weekly Chart! Last week one of my key areas for price to have a reaction was hit. I am expecting on the weekly chart to have a pullback as PA has been pushing up for the past 12 consecutive weeks.
After a long uptrend GBPJPY is looking to correct. The dip under previous low before closing above is a signal that things might recover in the short term.
I'll be looking to short the retest of the broken trendline. Horizontally, it's a 4 touch support area which is now resistance, making it a perfect place to short.
JXY is currently looking like it's going...