GBP/JPY Analysis
Updated
GJ has no intentions fundamentally to change it's very bullish trend. It has been carefully following bull market structure without breaking it nor even being close to break. There would need to be a large fundamental catalyst in order to break bull market structure and look for sells.
In my analysis I see only buying opportunites once I see liquidity grabs at new highs and see those strong pullbacks to previous demand areas. Regarding this analysis I would like to see a pullback towards 155.000 - 154.800 and wait for price to respect that area and take my buys to re-test the newly created intraday highs at 156.000. You can also expect deeper pullbacks to 154.500 - 154.200 if buyers decide to sell off positions to receive profits and sellers jump in the market.
Overall analysis is Bullish. Trade carefully and do not overtrade. Remember today is a bank holiday, we might just get consolidation throughout the whole day.
Good luck!
In my analysis I see only buying opportunites once I see liquidity grabs at new highs and see those strong pullbacks to previous demand areas. Regarding this analysis I would like to see a pullback towards 155.000 - 154.800 and wait for price to respect that area and take my buys to re-test the newly created intraday highs at 156.000. You can also expect deeper pullbacks to 154.500 - 154.200 if buyers decide to sell off positions to receive profits and sellers jump in the market.
Overall analysis is Bullish. Trade carefully and do not overtrade. Remember today is a bank holiday, we might just get consolidation throughout the whole day.
Good luck!
Trade closed manually
Who else took the HRHR buys at 154.827 and scalped those amazing 70 pips!? Incredible how the levels are very well respected.Follow and like!
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