Expect Early Retracement before Market Move

Once again GBPJPY is playing with levels and moving as expected at times even beyond expectations. Last week we only caught about 350 of the potential 650 pips while the risk was a measly 30 pips. once the channel broke and retested on the 15 min it never went back to the zone and made an insane run-up to our weekly take profit before charging even higher heading for that 140 zones. Expectations are clearly for a reach for 142-143.0 but can see some retracements to retest liquidity zones that remain untested last week, mainly 135.5. Otherwise, this trend has shown small signs of breaking and we can expect a run up to 142.0 but just bear in mind that we can see some channelling especially with some news expected this week for the pair.


NOTE: THIS IS NOT FINANCIAL ADVICE AND IS NOT TO BE TAKEN AS SUCH. PLEASE NOTE THIS IS STRICTLY FOR ANALYTICAL PURPOSES AND FOR PEER CRITIQUE