GBP/JPY BIAS FOR JAN 2024
Due to the aggressive bullish price moves that happened throughout most of 2023's trading year,
the "Beast" is currently in a premium, and the algorithm will seek to reprice from the External Range Liquidity (ERL) back into the Internal range Liquidity (IRL). The Fair value Gap (FVG) that lies around the 172.000 is the long-term Draw on Liquidity (DOL). So going into this week's trading I want to see GBP/JPY trade lower after trading to the 180.000 institutional price level which also happens to reside within the FVG as seen on the 4h, 1h, M30 & M15 Timeframes respectively.
GBPJPY
https://www.tradingview.com/x/DV0gtkU2/
the "Beast" is currently in a premium, and the algorithm will seek to reprice from the External Range Liquidity (ERL) back into the Internal range Liquidity (IRL). The Fair value Gap (FVG) that lies around the 172.000 is the long-term Draw on Liquidity (DOL). So going into this week's trading I want to see GBP/JPY trade lower after trading to the 180.000 institutional price level which also happens to reside within the FVG as seen on the 4h, 1h, M30 & M15 Timeframes respectively.
GBPJPY https://www.tradingview.com/x/DV0gtkU2/
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