Potential Wickoff distribution on GBP/JPY Pair

Pretty simple analysis here, looks like the pair is in a Wickoff accumulation and distribution with SL hunts, the next move either up or down will be impulsive and volatile.

I am going down towards GBP/JPY going down today, seeing UK statistics, Unemployment down and wages up, portrays a typical stagflation scenario for the UK, which is a terrible outcome in the long run.

Comment:

Please note the pair is technically bullish, you need to get a lower low on the lower timeframes for this to be correct

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Pair made a lower low on a intraday time frame, worth risking, SL at daily highs.

Comment:

Pair is approaching first TP zone, partial profit taken SL moved to break even.

Trade closed manually:

Pair played out like a charm!

Comment:

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