Sell Setup on GBPJPY
Looking at GbpJpy, price has been establishing a bearish downtrend channel ever since we've come up to the long-term Weekly Resistance Level. Within this downtrend channel, price has now found itself approaching a Significant Daily Level and Non-Horizontal Resistance Level. This pivot point could be a catalyst to drive price towards the downside.
For confirmation, I'll be waiting for a strong bearish H4 candle closure before verifying that any seller sensitivity is present around this area. If there is, sell orders will be viable.
For confirmation, I'll be waiting for a strong bearish H4 candle closure before verifying that any seller sensitivity is present around this area. If there is, sell orders will be viable.
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