as long as we don't break the flag pattern we can assume that gbpjpy will reverse up on the third touch up can be a potential break to the upside if not we reversing back down
it has touched the daily 200 MA
STOCH oversold
New month is going to start and im expecting the monthly candle to start out green as per three white soldiers candle sticks
Yes, normally this would seem Like a bullish pattern but it's actually very bearish as the higher highs are gradually getting weaker.
if you look at any pattern online be it a wyckoff patter, wolfe wave pattern or even a ABCDE pattern it looks similar to this and is usually the top of a bull run. also with the fundamentals mixed in that the Japanese will most likely tighten up their ultra loose policy on interest rates sometime in the first quater or 2024 there's a strong chance that we are going to see a down move atleast to the 176-175 area.
ofcourse I could be wrong just want to say be careful. Happy new year !!
if you look at any pattern online be it a wyckoff patter, wolfe wave pattern or even a ABCDE pattern it looks similar to this and is usually the top of a bull run.
also with the fundamentals mixed in that the Japanese will most likely tighten up their ultra loose policy on interest rates sometime in the first quater or 2024 there's a strong chance that we are going to see a down move atleast to the 176-175 area.
ofcourse I could be wrong just want to say be careful.
Happy new year !!