After price broke structure with momentum, it left behind a huge imbalance and a clean POI. Price used supply to retrace back to mitigate the POI and is looking to take out trendline liquidity at the same time. Our overall orderflow is currently bullish, so area is a good place to join in on the ride to the upside.
GBPJPY bounced off the support of 161.416 and headed up. The nearest resistance is the first target.
BUY scenario: long to 162.4.
-----------------------------------------------------------------------------
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
