GBPJPY has begin forming an Head and Shoulders pattern on the daily timeframe. The right shoulder has begin forming due to price hitting a resistance level. Price has been divergent since last week but sometimes the market like to bait retailers on both sides before ending the week and take off before giving an optimal entry. This setup may take a while to eventually play out but first targets are around 500+ pips for the swing
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For more value and signals, join the Skyboxpips community t.me/Skyboxpips
Follow us on Instagram @skyboxpips
Follow us on Instagram @skyboxpips
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.