I have planned an entry on GBP/JPY around a key level that aligns with a high-value VWAP from the second week's low of this month. This VWAP has shown strong Rhythm being tested, reinforcing its significance as a key reference point. Given its ability to attract liquidity and provide structural support, I consider this level to be a high-probability area for a reaction.
Since there are currently no significant fundamental factors affecting the British pound or the Japanese yen, I am basing this setup entirely on price action and technical confluence. I will wait for confirmation on lower timeframes before executing the trade.
Since there are currently no significant fundamental factors affecting the British pound or the Japanese yen, I am basing this setup entirely on price action and technical confluence. I will wait for confirmation on lower timeframes before executing the trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.