Hi guys, I hope that you are all are well! This week we have seen continued bearish momentum in GBPJPY to which has seen prices push close to 141's even, which is a very important and psychological level for this pair and we also saw prices retest a strong area of structure support (Daily) of 141.00 - 141.30's to which we have since seen some relief in selling pressure as buyers have been stepping back into the market.
I am then looking for a pullback to the upside to continue in where I will be monitoring to see if price action push up into my kill zone for where I believe is the most likely area sellers may re-enter once more, in anticipation for one final retest of the structure lows down at 141.33's for bearish trend continuation and potentially a push down into the 141 even handle!
I hope you all have a great week!
I am then looking for a pullback to the upside to continue in where I will be monitoring to see if price action push up into my kill zone for where I believe is the most likely area sellers may re-enter once more, in anticipation for one final retest of the structure lows down at 141.33's for bearish trend continuation and potentially a push down into the 141 even handle!
I hope you all have a great week!