FX:GBPJPY   Livre sterling / Yen japonais
After the liquidity wipe out price swiftly went bullish, got rejected by the neckline and sold off to complete the head and shoulders pattern. Price pushed up on to change the character of the structure and broke the structure to create a higher high. Notice a mild drop after the creation and the order got rejected by the supply zone to drop to the breaker block. Price is now currently reacting to the block, currently faced with reversal candlesticks. Should price respect this area, then we expect it to drive all the way up to make a nice liquidity sweep before going aggressively bearish. The initial target point should be level 164.491 or at least between levels 164.210 and 164.491 then ultimately we target 165.490 before going bearish…

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