GBPJPY.. Tentative View.. 151.50-7X may provide temp bottom ..
IT seems everyone is hitting longs on the GBPJPY; where as it shows some significant drop. It is difficult to chart on smaller time frame; hence weekly is what I'm going with.. 155.2X been a break point could come into retest.. I suspect 151.50-7X could form a temp bottom to get some lift off towards 155.XX. A failure to say 155.5X and we can see new bigger leg down towards 148.XX.
i.imgur.com/Eq4Wj1o.png
i.imgur.com/q5axQRO.png
GBPJPY Weekly -
Alternatively incase this is in no mercy mode; GBPJPY can simply drag all the way down to 148.XX before rebounding. That also would make sense; since as long as traders would think it can't drop any further it would just do the opposite and take most of the traders trading into bias to the butchery, before reversing
i.imgur.com/Eq4Wj1o.png
i.imgur.com/q5axQRO.png
GBPJPY Weekly -
Alternatively incase this is in no mercy mode; GBPJPY can simply drag all the way down to 148.XX before rebounding. That also would make sense; since as long as traders would think it can't drop any further it would just do the opposite and take most of the traders trading into bias to the butchery, before reversing