EURJPY is currently in a really sensitive area where we see the daily momentum and the4hr structure show different setups of bulls and bears
GBPUSD rejected 1.26875 and with the current momentum in the daily pushing to the upside
EURJPY closed with bullish momentum even though the structure on the 4hr is looking bearish.
GBPUSD is looking really bearish after last weeks close and we could see a new leg to the downside.
With the current momentum on EJ pushing to the downside even though the weekly is pushing to the upside we could see a simple push down for a sell early in the week
After a rejection of 1.27500 area and a break below support will GBPUSD continue a bearish move for the week
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EURJPY saw a sell-off to our target area after the BOJ news release
A video showing how the week ended for the pair and the direction it went
EURJPY saw a really bearish closure after reaching into 170.000 monthly area of resistance and seeing a massive sell off.
GBPUSD came back to retest 1.27500 an area which correlates with a trendline area of support and 61.8 fibonacci.
EURJPY broke above trendline and structural areas of support and is looking to continue to the upside.
After the cpi new release and the daily candle close bullish GBPUSD is clearly making buy type moves and we could expect another leg higher into 1.30000 monthly area
EURJPY had a daily close above 168.750 leaving the pair in a double bottom pattern on the 4hr timeframes
GBPUSD closed the day below 1.27500 and still in the indecision phase from my last update. With cpi news coming out later today having a look at fundamentals to set a direction.
From the previous day we saw eurjpy still making lower highs on the 4hr timeframe following the bearish close from last week.
With the potential for economic news release tomorrow GBPUSD is currently trading between two psychological level.
In this video we can see that last week closed as a bearish reversal pattern which caused a break of structure on the 4hr and daily timeframes .