GBP/JPY ANALYSIS AND THOUGHTS
GBP/JPY 15M - This is another pair I have taken some interest in based on the structure its putting out and how its been playing out over the course of the past few days, you will see I have gone ahead and marked out some areas in price.
Price traded into a Supply Zone originally which led price to then break structure to the downside here on the higher timeframes, I have gone ahead and marked that out for you. What we are seeing now is price correcting itself.
Price is currently trading back up to set a new Lower High in what I think is going to be new bearish structure. I have marked out an area of relevance I feel price may trade up and into before trading us lower in the market.
In order for us to deem a valid entry we want to see price trade up, reject well from the zone breaking structure before pulling back initially and continuing to trade us lower in the market.
Price traded into a Supply Zone originally which led price to then break structure to the downside here on the higher timeframes, I have gone ahead and marked that out for you. What we are seeing now is price correcting itself.
Price is currently trading back up to set a new Lower High in what I think is going to be new bearish structure. I have marked out an area of relevance I feel price may trade up and into before trading us lower in the market.
In order for us to deem a valid entry we want to see price trade up, reject well from the zone breaking structure before pulling back initially and continuing to trade us lower in the market.
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