GBPJPY: Crab completion - 143.000 in sight
Price has now completed the Harmonic crab projection at the 138 level. I will be keeping an eye on this level during the early stages of next week. Ideally we would see another pattern forming on the lower time frames for confluence on a retrace before heading higher.
The bulls are clearly in control with the shift in market structure. We may see a push up to 138.500 area before any signs of selling pressure comes into play. Once a pull back on lower time frames looks to be setting up we can consider which levels are valid for a buy to target 143.000.
The bulls are clearly in control with the shift in market structure. We may see a push up to 138.500 area before any signs of selling pressure comes into play. Once a pull back on lower time frames looks to be setting up we can consider which levels are valid for a buy to target 143.000.
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