GBPJPY ANALYSIS [W/B 10/06/24]
GJ has been interesting to me the last few weeks. It has a dilemma that it is going through.
As seen within the POI, there is plenty of imbalance which could force price downwards, with confluences such as structural breakdown and imbalances left over downwards in the demand area - however price has - within the last significant periods - been trading upwards.
I agree that if the upper zone of this POI is broken - we could well see a very lengthy and strong bullish run - especially as on the weekly chart there was a lot of imbalance left over.
If we see structural breakdown to the downside I am expecting any of the drawn out TP's to be taken.
As seen within the POI, there is plenty of imbalance which could force price downwards, with confluences such as structural breakdown and imbalances left over downwards in the demand area - however price has - within the last significant periods - been trading upwards.
I agree that if the upper zone of this POI is broken - we could well see a very lengthy and strong bullish run - especially as on the weekly chart there was a lot of imbalance left over.
If we see structural breakdown to the downside I am expecting any of the drawn out TP's to be taken.
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