I want to share with you some thoughts about pound yen pair.
analyzing a we see a clear violation of dominating .
as the market broke a that the market has followed for more than a year,
we see a clear switch of a sentiment.
Now the market is establishing a series of lower lows and lower closes and as the market met 140.00 zone,
we see a steady retracement upwards.
Looking left and adding some fibs we can identify a kill zone for the market, inside of which we will anticipate it
reversing and moving down to the market low.
Also, I need to mention that the breakout of our potential reversal zone will mean the violation of the existing
and a trading bias will change to .
for example, bearish breakout of a local support level