GBPJPY has the potential to fall.. Around 250 pips. There's a lot more going on behind the scenes but to keep this shorts and simple -
GBPJPY has been very bullish from the start of the trading week creating highs at 145.000 which is a strong resistance area . Price has already had 3 failed attempts to breach this region. Instead it seems we started to trade sideways, loading up sellers to potential push price lower.
Our members are in this pair at the highs (145.000), and we’re awaiting to add more positions from a break out of this consolidation box as marked. To add to the confluences, we have broken our counter trend-line upon 3rd touch. In addition, there's a gap which needs to be filled From this point on we can look for a retest which will give us another opportunity to sell this pair lower and add more positions.
Our targets are marked on the charts at significant supportive Barriers. Our first barrier to break is the 144.250 area, if we manage to surpass this region we can head a lot lower to our ultimate target 142.500.
What will invalidate our bearish bias? If GBPJPY manages to take out the resistance of 145.000, than this will invalid our Trade..
Our Students are in this trade +50 PIPs.
Happy Trading.
GBPJPY has been very bullish from the start of the trading week creating highs at 145.000 which is a strong resistance area . Price has already had 3 failed attempts to breach this region. Instead it seems we started to trade sideways, loading up sellers to potential push price lower.
Our members are in this pair at the highs (145.000), and we’re awaiting to add more positions from a break out of this consolidation box as marked. To add to the confluences, we have broken our counter trend-line upon 3rd touch. In addition, there's a gap which needs to be filled From this point on we can look for a retest which will give us another opportunity to sell this pair lower and add more positions.
Our targets are marked on the charts at significant supportive Barriers. Our first barrier to break is the 144.250 area, if we manage to surpass this region we can head a lot lower to our ultimate target 142.500.
What will invalidate our bearish bias? If GBPJPY manages to take out the resistance of 145.000, than this will invalid our Trade..
Our Students are in this trade +50 PIPs.
Happy Trading.