GBPJPY Breakdown Analysis
GBPJPY retraced nicely back to the 70.5% Fibonacci retracement area, tapping the string descending TL, so it looks like a nice sell for next week ahead. Drill down to the lower time frames for confirmation on the sell. COT reports a stronger Yen as more short positions is being closed in the market, which might drive the price down.
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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.