GBPJPY - WEEK 15 ANALYSES
Monthly bias - short:
Rejection from the monthly sell zone + liquidity run above previous high.
Weekly bias - short:
Previous weekly candle is filling the pin bar wick that we’ve created in week 13. This tells me that we’re almost ready to create the next move downwards.
Week 15 - analyses:
I expect a push up towards the 162.8 area where the .618 fib is located in the beginning of the week. Be cautious for a liquidity run above the previous wick at 162.725 (see red zone).
After the move up I think that we’ll see a strong move down towards 159.9 area since we’re in a Monthly Sell Zone. The next major level of support will be at 159.9, this is where GJ maybe finds some support but since we’ve tested this area multiple times (see red arrows) It may break this level and move further towards 157.5 where we’ll find our next fresh support/buy zone.
Rejection from the monthly sell zone + liquidity run above previous high.
Weekly bias - short:
Previous weekly candle is filling the pin bar wick that we’ve created in week 13. This tells me that we’re almost ready to create the next move downwards.
Week 15 - analyses:
I expect a push up towards the 162.8 area where the .618 fib is located in the beginning of the week. Be cautious for a liquidity run above the previous wick at 162.725 (see red zone).
After the move up I think that we’ll see a strong move down towards 159.9 area since we’re in a Monthly Sell Zone. The next major level of support will be at 159.9, this is where GJ maybe finds some support but since we’ve tested this area multiple times (see red arrows) It may break this level and move further towards 157.5 where we’ll find our next fresh support/buy zone.
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