GBPJPY-POTENTIAL SHORT IDEA
Updated
GJ has failed to reclaim Daily Pivot level and is showing signs of reversal on 1H TF. I will be looking for retest and reject of red zone to take short position (1-2 RRR). RSI is also in a crucial overbought area.
On the other hand, if GJ can reclaim Daily Pivot Level, I will be looking for support to form in that zone to take long position.
On the other hand, if GJ can reclaim Daily Pivot Level, I will be looking for support to form in that zone to take long position.
Note
As described in the photo, GJ went to my predicted rejection zone and reversed straight to target areas. Rejecting at the 4H Pivot level. If GJ breaks and closes below that level, we can see it go even lower. Stay tune for update.
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