GBPJPY has a had a strong bullish week as we recently tapped into the HTF Demand of 149 lows failing to break below showing us buyers are in control as higher time frame bullish ms has not been broken. which gave the strong bullish reaction we saw take place this past week to recover the sellers downside in the past 2 weeks during monthly close of September and Q3 close, Which those pullbacks was order flow / price set up for Q4.
When conducting an analysis on GJ you want to gauge price movements on the Yen. Something to take note on is that YEN has been heavily bearish on the higher time frame. Thus, creating a bullish GJ. Gauging in Economic Data for Yen and Pound to gauge individuals strength as a currency.
YEN is a safe haven currency
Pound is a risk currency
When conducting an analysis on GJ you want to gauge price movements on the Yen. Something to take note on is that YEN has been heavily bearish on the higher time frame. Thus, creating a bullish GJ. Gauging in Economic Data for Yen and Pound to gauge individuals strength as a currency.
YEN is a safe haven currency
Pound is a risk currency