GBPJPY Journal 12-5-18
So GJ is nearing a very strong buyer reversal zone at the moment, if you look on the 4h and D timeframes, you can see that the past couple of times price was here it sky rocketed some massive amount of pips. But something else that may be very valuable to keep in mind while looking for any buys is that the price action for GJ on the Daily really indicates that we could possibly break below that zone and fall another 400 pips. Currently I am not looking to get into this market, I will place a buy limit right at the fibonacci extension to possibly catch a few pips to the upside. But, ultimately we are nearing a very critical zone, that has showed us buyer potential in the past, but recent price action says we can break below and head down further
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