GBPJPY is at demand zone(nested daily in weekly demand zone) there is a possibility for a short-term pull back, since GBPJPY is at extreme holding long is risky.
upon confirmation on the demand zone the possible target is 185.805 - 185.038 supply zone.
W1 and w2 zone are the two demand zone in control.
W1 and w2 zone are the last two imbalances remaining for a potential long term sell if eliminated since GBPJPY is at extreme.
Trade active
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w1 demand in control
Trade active
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W2 demand in control which remain the key demand imbalance that hold the bullish sentiment
Trade active
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W2 demand still Holds for a short term buys
Trade active
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W2 demand still Holds on the third hits
Trade closed: target reached
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w2 demand zone gained control after 3rd hits, also hits the target 185.805 - 185.038 supply zone