FX:GBPJPY   British Pound / Japanese Yen
GBP/JPY looks like its in for a ride on the trend line break . Followed by this we have retraced 61.8% into 156.700. With this in mind and a combination of market structure forming lower highs and lower lows I do expect multiple rejections on 156.7 forming a lower high bringing in an opportunity for shorts into 154.5. in order for this to be valid, as mentioned we need candles to remain below 156.7 and a strong bearish candlestick closure on the 4HR tf.
Comment: Target Smashed.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.