On the weekly TF, GBPJPY is clearly bullish. scaling down to the 4hr TF, there is a reversal/pullback from 208.000 psychology level to 180.000 psychology level. scaling down to the 1hr TF, I can see price reversing upwards after touching the 180.000 psychology level. after price broke through our 190.000 psychology level, creating a clear FVG which price will likely come back and fill it up before pushing upwards. I can also see price creating a double top on the 192.000 psychology level try to fill up the FVG it created earlier. I'm trying to catch a sell to the zone I'm looking to buy from because price will clearly reverse down to our 190.000 psychology level before pushing upwards.
Note
see how price spiked down massively taking our psychology and order blocked level out. I cut a massive pip on the sell this morning. hoping to catch more pip when it gives us a buy signal. I'm still watching for s possible buy entry... for now market will continue going bearish.
Chart PatternsTechnical IndicatorsTrend Analysis

Also on:

Disclaimer