GBPJPY - Analysis

- This is my current outlook on GJ, looking at the 4HR timeframe we can see currently a bearish order flow. Where price has just reacted with a support level, for a strong bullish push on lower timeframes. I would be looking for a break to the downside to target previous lows as my bias. However, an upwards break is still possible to target previous highs. A trade should be taken based on a reaction, not a prediction.
- Yesterday news was released indicating that the Japanese yen could see a rise due to the swelling of the leveraged loan market, therefore supporting the sell bias as a trade.