Im watching FX:GBP/JPY very closely here. Because if it bounces of the resistance up at 133.000 and cannot break it this will be for the 4th time in the space of 48 hours, meaning price will be going straight down, at least to TP1 if not TP2 as well. Ichimoku says the price will be going up, so there's a lot of confusion around what price may do. However it may be worth waiting till the next hour candle.
BUY only if the 133.000 resistance is broken, retested and the new support of 133.000 is not broken. TP around the 134.000 area before correction.
Great idea I have had the same though, seems to be at the top of a downward channel aswell. Waiting for the next 4 hour candle close to decide on whether it is a potential short!
SJFXT
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@ms I’ve got in for a short from now, caught half of the big dip, riding the wave now, till around that 132.000 then have to monitor it again to see if it’s gonna bounce or break.. GL to you though! 👍🏽