GBPJPY Will tomorrow be the big downturn?

10 set 2023

On GBPJPY, we have a bullish setup after a bearish start to the week. The price, reaching the level of 184.26, broke a swing high on Friday, signaling a potential downturn. Furthermore, the price is getting closer to a supply area, specifically the range of 184.50 - 184.80, where we could look for a short opportunity. My goal for tomorrow, at the opening of the London session, will be to seek a potential bearish setup on a 15-minute chart (M15). I'll wait for a structural change followed by a liquidity pickup in a specific market phase, and then I'll enter the market. I'll only consider trading GBPJPY during the London trading session, and only if my setup occurs. Otherwise, I'll remain on the sidelines and monitor the situation. Let me know what you think, comment, and leave a like to support our work. Greetings and have a great Sunday.