British Pound / Japanese YenUpdated Melt-up scenario in GBP/JPY. Watch out for a quick fall
Dear traders, GBP/JPY is on a relentless uptrend for many days now.
The current scenario can be compared to that of a melt-up.
However, if the bears step in now, expect a quick fall in GBP/JPY. Watch
out for a bearish price action to sell and expect price to fall to at least
170. Price is very over-extended from the EMA so, I do not recommend any
long entries at the current level.
The current scenario can be compared to that of a melt-up.
However, if the bears step in now, expect a quick fall in GBP/JPY. Watch
out for a bearish price action to sell and expect price to fall to at least
170. Price is very over-extended from the EMA so, I do not recommend any
long entries at the current level.
Note
Price has dropped 60 Pips since I posted
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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.
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.