GBPJPY 1HR BEARISH TREND CONTINUATION
Hi guys, I hope that you are all are well! This week we have seen continued bearish momentum in GBPJPY to which has seen prices push close to 141's even, which is a very important and psychological level for this pair and we also saw prices retest a strong area of structure support (Daily) of 141.00 - 141.30's to which we have since seen some relief in selling pressure as buyers have been stepping back into the market.
I am then looking for a pullback to the upside to continue in where I will be monitoring to see if price action push up into my kill zone for where I believe is the most likely area sellers may re-enter once more, in anticipation for one final retest of the structure lows down at 141.33's for bearish trend continuation and potentially a push down into the 141 even handle!
I hope you all have a great week!
I am then looking for a pullback to the upside to continue in where I will be monitoring to see if price action push up into my kill zone for where I believe is the most likely area sellers may re-enter once more, in anticipation for one final retest of the structure lows down at 141.33's for bearish trend continuation and potentially a push down into the 141 even handle!
I hope you all have a great week!
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.