I am expecting GBPJPY to close under 150.500 at the close of the 4H candle. This will create a sell signal at a level of rejection in the 4H bullish channel. Looking for sell entries from between 150.400 till 150.
GBPJPY is currently consolidating within a 12 pip range in the 15min TF. It has experienced resistance at level 150.500 and we are waiting to see the close of the next 4H and 1H candles to show us the direction of price. The direction of the wicks show us a downtrend may be developing but confirmations are still being analysed.
Currently waiting on the close of the Daily candle on GBPJPY. A piercing line pattern is present in the daily on a key support level P=147.500, which also repeated itself in the 4H TF. Should price close above 149.500 we are expecting bullish moves toward 150 and beyond tomorrow. Watching and waiting.
GJ closed Bearish in a 1hour TF with a signal on a key resistance 149.500 with an engulfing going short. Target zone 149.250 already reached. Next potential target is bearish at 149.00 upon close of current 1 hour candle below (candle must close below 149.250) in 1H.
GBPJPY keeps touching key support level 147.750 and has now rebounded back up to just below 149.00 where it is ranging between here and 148. Waiting patiently to see more clear setups emerge after Monday.
