GBPJPY More Downside, Watch For Continuations

16 May 2022

Hello traders:

GBPJPY has show good bearish price action since end of April, and we could potentially see more bearish downside.

From the HTF we can see the overall price has hit a top of a higher time frame structure, and signs of bearish reversal move down.


On the lower time frame, a Head and Shoulder pattern has formed, price impulse down, broke previous lows, and formed possible continuation correction.

Good idea to look for confirmed impulse out to of the continuation correction for best entries down to the next lows.

Thank you

17 May 2022

Not

didnt see this correction complete
nor bearish impulse to push out
so no entry, no trade

18 May 2022

Not

25 May 2022

Not