GBPJPY for 08 June 2020
Updated
Please refer above for the illustration and explanation.
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Note
The entry that I took for GBPJPY did not work out well as the strength of the seller at 140 was too strong which break through the support of 139. The question here is will GJ continue to fall or will it go up, the answer is it depends. As weekly and monthly chart is still showing bullish however the daily chart is showing bearish so at the moment, there is still no confirmation as to where GJ might head next.
Wait till tomorrow for the confirmation as if GJ still continue to go down, chances of it being bearish for the week will be guarantee however if GJ decide to head back to its previous support and resistance zone at 140, chances of it going bullish for the rest of the week will be confirm.
Note
As predicted, GJ was bearish throughout the week and most likely it will continue yo do so for next week. Do keep a lookout for the sign. Cheers!
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