GBPJPY Downside Movement?
Daily
Price on the daily is uptrending, and has recently entered a zone which caused price to begin a long bearish move. There are signs of indecision and bullish rejection, as a doji spinning top and doji bearish pinbar was recently formed, both strong signs we could be seeing a change in momentum to the downside.
4 Hour
Dropping to the 4 hour, we can see further signs of indecision and bullish rejections. Price also just managed to create a close below 147.350, current 4 hour lows. The candle which did close below has some rejection, however its much larger than prior candles, and so I think there is a chance we can see price moving lower.
Summary
There are signs that a change of momentum can occur on both the daily and 4 hour. If price creates more confirmation, I will be looking at price moving towards 146.450 and 145.450, both 4 hour market structure level. Since the underlying trend is bullish, I am keeping projections conservative.
Price on the daily is uptrending, and has recently entered a zone which caused price to begin a long bearish move. There are signs of indecision and bullish rejection, as a doji spinning top and doji bearish pinbar was recently formed, both strong signs we could be seeing a change in momentum to the downside.
4 Hour
Dropping to the 4 hour, we can see further signs of indecision and bullish rejections. Price also just managed to create a close below 147.350, current 4 hour lows. The candle which did close below has some rejection, however its much larger than prior candles, and so I think there is a chance we can see price moving lower.
Summary
There are signs that a change of momentum can occur on both the daily and 4 hour. If price creates more confirmation, I will be looking at price moving towards 146.450 and 145.450, both 4 hour market structure level. Since the underlying trend is bullish, I am keeping projections conservative.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.