GBPJPY Sell Incoming

11 gen 2022

After analysing the current market conditions and seeing the longer term price action I believe GBPJPY will drop.
Price has been distributing since March 2021 and we have seen price range since then and thus I will be expecting a huge move.
Over the last couple of weeks I have noticed price re-distributing as a possible LPSY for market to drop.

Overall GBP is starting to weaken and the JPY is starting to gain strength hence why this could accelerate the drop for GJ.

Thanks for reading and looking at my chart, leave a like, comment and follow for more ideas.


DISCLAIMER: I am not a financial advisor and nor is this financial advice.

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11 gen 2022

Nota

Price is currently floating around entry level. I expect price to move down tonight at 1am GMT as we have BoJ's Governor Kuroda holding a press conference about the monetary policies.

12 gen 2022

Nota

Price shot up, cleared the internal liquidity and dropped as per one of my earlier analysis.

Have a look at that and how GJ is playing out.
If we can get the full drop, this will definitely be a good case to backtest!