GBPJPY, 23-03-30, London Session

FX:GBPJPY   British Pound / Japanese Yen
Bears tried to dominate during the Asian session but bulls have maintained their ground at 163.00.

Dailies are clear of a bullish trend with all arrows pointing up - higher highs, higher lows. Main bias is to go long but with price having gone this far without a correction, who has the nerve to buy into it? We are in fact in bear's territory.

My immediate bias is still to short around 163.60 to 163.70 with a main bias of going long around the support levels I marked. I have tried shorting twice today only to have been stopped out. I'll wait for the next compression and look for new entry points.


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