My initial thoughts were to look for buy entries as we hit a low, with a double bottom on the 15-minute chart showing potential signs of upside movement. I entered a buy position but was stopped out in profit due to the formation of a double top, indicating that the overall daily downtrend could still be in play. This reinforces the importance of risk...
GBPJPY is currently in a downtrend, with a confirmed double top on the 15-minute timeframe. The break of the neckline strengthens the bearish outlook, suggesting further downside movement.
AUDUSD has confirmed bullish momentum on the higher timeframes, with an intraday setup targeting the next 4-hour high.
EURJPY-The 4-hour structure has broken, and the price is currently sitting at the 4-hour low. A double bottom has formed on the 15-minute timeframe, and a break of the neckline could signal continuation. I will trail my stop loss as higher lows develop.
Daily confirms downtrend 15 min structure break possible continuation to 4hour low
USDJPY overall 4 hour trend is Bullish (Major Trend) the current trend is a retracement and could still push lower to maybe the equal, we have a 4hour break with a 30 min confirmation that we could continue selling.
Daily Break of Structure 4 hour confirmation of a Double bottom, we could see great push to upside great strength in Aussie as we have another 4 hour breaker higher high. We could potentially scale in at every 4 hour pull backs.