GBPJPY, 2023-03-31, Asian Session

FX:GBPJPY   British Pound / Japanese Yen
Bulls dominated bear territory as price hits above 165.00. In the dailies, the trend is evident with higher highs and higher lows. At this point, bulls who got left behind (including me), are scratching their heads on how to take the next trade. We need some correction to get in.

So far, here are the closest significant levels, 164.50, 163.80 and 163.00. Even with those levels plotted out, I just hope price compresses before bouncing off.

166.00 seems the ultimate target for now. Is it a good area to short? Probably so.


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