GBPJPY Top of structure, watch for sell

Hello traders:

Most of the JPY pairs are getting strength, and are forming clean bearish price action, and I expect further downside potential from the price.

We can see price is currently in this HTF larger parallel channel correction, and the latest price is forming consolidations at the top of the structure.

We see a Head and Shoulder pattern, good indication of a bearish reversal.

Price has already pushed down from the right shoulder correction, good sign for further downside.

Be on the look out for further bearish lower time frame continuation correction to get in on the sell down to the lows.

thank you

Kommentar: