Right now GJ is still consolidating... I still see GJ pushing to the downside... Daily's Fibs show no matter if price is going to continue to the upside for an uptrend of the Daily or downtrend for the daily... I still see 140.777 getting hit.
As you can see in this 4 hour view, market is forming a pennant/falling wedge, this happens to be a breakout to the upside so i expect market to breakout on top. Not mentioned in the video is the fact that market is currently forming a rectangle channel within the pattern formation and this is a sign of breakout soon to occur, highly expect a breakout this...
Need a confirmation signals in order to get involved in this trades
Short video highlighting a possible long setup on the 1HR chart for GBPJPY. This setup is based solely on a demand zone and I would be looking risk/reward above 6 potentially. Right now, I'm going to be monitoring the pair and watching how price action enters the zone in order to make the final call on whether I will take it or not.