GBPJPY 4H Range Bound

This chart shows projections of possible moves for the GBPJPY 4 H this week. It is currently range bound. Looks like it may drift back to the bottom of the range. There it can bounce back into the range or make a possible breakout short. If a bounce then a move back to the top. At the top of the range box price can 1 - bounce back into the range if the timing for a trend continuation is not there yet. 2 -
It can break the top of the range but fail to progress the trend continuation of making higher highs and higher lows and fall back into the range box. 3 - If the market is ready for a bullish continuation then higher highs and higher lows will progress to be made.

Yorum:

Pair appears to be breaking short from the range box. On the 4H draw a trendline from the 140.00 spike to the 9-5-17 candle at 141.20. Watch for the break of that trendline on the 30 m chart with a break-hook-go.