GBPJPY Daily S/R| .618 Fibonacci| Order Block| Price Action

Evening Traders,

Today’s analysis – trading towards a technical confluence area where a bounce is probable,

Points to consider,

- Price Action Impulsive
- Order Block Support
- .618 Fibonacci Confluence
- Volume Climax
- RSI Neutral

GBPJPY’s immediate price action is impulsive, trading towards a support area that is in technical confluence with an order block and the .618 Fibonacci Confluences, allowing for a bullish bias.

The volume climax is indicative of a temporary bottom; a reversal will be a rise in a short squeeze fashion.

The current RSI is trading in a neutral region, reclaiming its bullish mid-point will signify strength in momentum.

Overall, in my opinion, GBPJPY is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following work

And remember,

“Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.”
― Yvan Byeajee