SHORT - GBPJPY (D, H4) (26 May 2023)
This pair's behaviour is too erratic
As it is seen, price has been touching the Supply Zone but no visible price action is seen yet.
Since it is not clear what the price may do, it is best to observe it over the next few weeks in the Weekly and Daily Charts, to see
A) whether it will be pressed down and remove any opposing zones for SHORT opportunities OR
B) whether price will pierce through to reach another Supply zone for SHORT opportunities.
Weekly Chart
Daily Chart
As it is seen, price has been touching the Supply Zone but no visible price action is seen yet.
Since it is not clear what the price may do, it is best to observe it over the next few weeks in the Weekly and Daily Charts, to see
A) whether it will be pressed down and remove any opposing zones for SHORT opportunities OR
B) whether price will pierce through to reach another Supply zone for SHORT opportunities.
Weekly Chart
Daily Chart
A new analysis will be done for this pair.