Sell scenario on GBPJPY
This pair seems overdone we are expecting a pullback, mid term sell opportunity at least.
Price must stabilise below 170.000 and must create bearish patterns on smaller timeframes.
1st tp would be 165.100
2nd tp would be 161.000-160.500
Once price taps 160.000 it should push back up and make a new high, as long as the yen stays weak.
GBP interest rate decision coming up and we also need to pay attention to the government's plans in effort to stabilise the economy in the UK, this pair might have sudden pumps and dumps based on news.
Good luck traders
Price must stabilise below 170.000 and must create bearish patterns on smaller timeframes.
1st tp would be 165.100
2nd tp would be 161.000-160.500
Once price taps 160.000 it should push back up and make a new high, as long as the yen stays weak.
GBP interest rate decision coming up and we also need to pay attention to the government's plans in effort to stabilise the economy in the UK, this pair might have sudden pumps and dumps based on news.
Good luck traders
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