GBPJPY - Where will we go after 150. ?
2020's bullish run into 2021 has most defintely surprised us all, but is it time for a potential reversal once we've exhausted the 150. level?
- I'm personally bearish once liquidity has been snatched between 150-150,500 where retail stops will be on last week's short sellers.
-A very interesting week or two coming for this pair I feel, has the mood changed?
-DXY strength could come into play next week, which could give that fundamental push to the yen.
-*First entry indicated is more of a potential retail buy setup and stop loss, I'd wait for a confirmation rejection from the bottom of the grey order block below before longs to 150-*
- Second entry shown gives me more confidence and confluence to take the trade depending on how momentum appears when approaching these key levels.
What are your thoughts?
This is only my perspective on potential price action that I shall be looking for over the coming days/weeks as indicated.
- I'm personally bearish once liquidity has been snatched between 150-150,500 where retail stops will be on last week's short sellers.
-A very interesting week or two coming for this pair I feel, has the mood changed?
-DXY strength could come into play next week, which could give that fundamental push to the yen.
-*First entry indicated is more of a potential retail buy setup and stop loss, I'd wait for a confirmation rejection from the bottom of the grey order block below before longs to 150-*
- Second entry shown gives me more confidence and confluence to take the trade depending on how momentum appears when approaching these key levels.
What are your thoughts?
This is only my perspective on potential price action that I shall be looking for over the coming days/weeks as indicated.
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