GBPJPY - FUNDAMENTALS WITH TECHNICAL BIAS#GBPJPY
Currently, GBPJPY is going up slightly due to MARKET RISK ON. We expect GBPJPY to wave UP again.
Anyway, that PRICE can fall on the SUPPORT LINE below GBPJPY again. But now GBPJPY PRICE can go UPSIDE MARKET. GBPJPY can definitely SELL at 160.097 LEVEL. For that, MARKET RISK should be OFF and JPY should be STRONG in the short term.
But we can BUY GBPJPY up to 168.690 LEVEL according to the STRUCTURE to COMPLETE the PATTERN. The reason for that is the idea that the MARKET SENTIMENT in the OVERALL MARKET will be RISK ON in the coming days. We must pay attention to MARKET SENTIMENT.
Gbpjpyprediction
GBPJPY top-down analysis todayHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
MY VIEW ON GBPJPYas shown in the H1 chart, the price is now completing the right shoulder to complete a HEAD AND SHOULDER chart pattern which is a strong selling pattern, and it has formed a minor bullish channel in H1 therefore when the price breaks lower trend line it will fall and complete a second shoulder then when it breaks and retests the neckline it may fall to 160.41 and if the movement will be strong it may go further to 158.00