GBPJPY TO THE DOWNSIDE
So to keep it simple, we currently placed the main S/R's. There were some active movements earlier a couple hours ago and caused a huge spike up which never broke through the 139.949 S/R . It ended up pulling back and closed below the other S/R which we wanted to and that would be a good sign of a short. It closed below the H4 candle at 139.403 so now our TP would be at the next S/R it would approach which in this case is the 136.541 area.
So to keep it simple, we currently placed the main S/R's. There were some active movements earlier a couple hours ago and caused a huge spike up which never broke through the 139.949 S/R . It ended up pulling back and closed below the other S/R which we wanted to and that would be a good sign of a short. It closed below the H4 candle at 139.403 so now our TP would be at the next S/R it would approach which in this case is the 136.541 area.