GBPJPY 4H Range Bound
Updated
This chart shows projections of possible moves for the GBPJPY 4 H this week. It is currently range bound. Looks like it may drift back to the bottom of the range. There it can bounce back into the range or make a possible breakout short. If a bounce then a move back to the top. At the top of the range box price can 1 - bounce back into the range if the timing for a trend continuation is not there yet. 2 -
It can break the top of the range but fail to progress the trend continuation of making higher highs and higher lows and fall back into the range box. 3 - If the market is ready for a bullish continuation then higher highs and higher lows will progress to be made.
It can break the top of the range but fail to progress the trend continuation of making higher highs and higher lows and fall back into the range box. 3 - If the market is ready for a bullish continuation then higher highs and higher lows will progress to be made.
Note
Pair appears to be breaking short from the range box. On the 4H draw a trendline from the 140.00 spike to the 9-5-17 candle at 141.20. Watch for the break of that trendline on the 30 m chart with a break-hook-go.
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