w1 Demand zone | GBPJPY Short-term pull back (risky)

GBPJPY is at demand zone(nested daily in weekly demand zone) there is a possibility for a short-term pull back, since GBPJPY is at extreme holding long is risky.

upon confirmation on the demand zone the possible target is 185.805 - 185.038 supply zone.

W1 and w2 zone are the two demand zone in control.

W1 and w2 zone are the last two imbalances remaining for a potential long term sell if eliminated since GBPJPY is at extreme.

Trade ist aktiv:

w1 demand in control

Trade ist aktiv:

W2 demand in control which remain the key demand imbalance that hold the bullish sentiment

Trade ist aktiv:

W2 demand still Holds for a short term buys

Trade ist aktiv:

W2 demand still Holds on the third hits

Trade geschlossen: Ziel wurde erreicht:

w2 demand zone gained control after 3rd hits, also hits the target 185.805 - 185.038 supply zone