GBPJPY Outlook
GBPJPY
Yearly
bullish with price trading within last year's VA
Monthly
bullish. looks good now that price has pulled all the way back to last month's VA and POC, ideally warranting an aggressive push north.
Weekly
price has just cleared yearly AVWAP. moved quite aggressively to the down side here even after the news about the rate cuts came in, this weekly candle's VA is right at the qtr POC and PP so even if price is to fall down it should pull back to it.
plan here will be to wait for buyers to step in. maybe it falls down to the LVA below on layout 4.1 and then buyers start to step in.
buyers can step in at the current close price of friday as we have already tagged 2024 POC.
any long position needs to be calibrated in a way that we book around lay 4.2's POC+VA+pp as there is a high probability of a sharp reaction from there.
Yearly
bullish with price trading within last year's VA
Monthly
bullish. looks good now that price has pulled all the way back to last month's VA and POC, ideally warranting an aggressive push north.
Weekly
price has just cleared yearly AVWAP. moved quite aggressively to the down side here even after the news about the rate cuts came in, this weekly candle's VA is right at the qtr POC and PP so even if price is to fall down it should pull back to it.
plan here will be to wait for buyers to step in. maybe it falls down to the LVA below on layout 4.1 and then buyers start to step in.
buyers can step in at the current close price of friday as we have already tagged 2024 POC.
any long position needs to be calibrated in a way that we book around lay 4.2's POC+VA+pp as there is a high probability of a sharp reaction from there.
Note
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