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RizeSenpai
Jun 27, 2023 12:19 AM

GBPJPY: Bearish Crab Visible on the Daily Short

GBP/JPYOANDA

Description

There is no Bearish Divergence or anything at this level, but I have a pretty good feeling that GBP will be Bearish against both the CAD and the JPY in the near future, so I think this Bearish Crab has a good chance of playing out.
Comments
Jfjhonny15
If it's going down it is not because of the crab pattern, it's going to be because there will be an intervention at anytime soon from the Bank of Japan due to the depreciation of the yen, verbal intervention has been occurring these days.
RizeSenpai
@Jfjhonny15, Yea that could be the fundamental aspect that brings it down, though something I believe is that harmonics such as this crab often align with fundamental shifts in the underlying assets. It's the confluence of things that often causes swings/waves like this.
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