GBPJPY 19 - 24 Sept Outlook and Trade Plan

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY 19 - 24 Sept Outlook and Trade Plan

Weekly closed Solid Bearish
Daily Solid Bearish LH/LL
4H Bearish (First break of bullish structure)

Nothing major changed from last week outlook except that we managed to close below 151 after we formed HH last week but failed to hold the bullish structure and on Friday we had formed LH on 4H after retesting the broken structure.

My Trade Opportunities:
If we managed to respect the broken range low and price forms resistance below 151.20, i'll be comfort for shorts below 151.00 targeting the lows created any may be continuation.
If we failed to stay below 151.20 and price start holding above, i'll stand aside till we clear and hold above 153 as price failed since July to close above.

FOMC and GBP Rate decision week. So map your news times and try not to hold trades during news time.

Wishing all a good trading week!


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