GBPJPY: Top-Down Analysis & Nice Short 🇬🇧🇯🇵

٨ يناير

https://www.tradingview.com/x/HtFkaKot/

GBPJPY is trading within a wide horizontal range on a daily.
The price is currently testing its resistance.

On an hourly time frame, we can see how the pair was weakening
after it started to approach the underlined blue area.

After a strong bullish impulse, the price formed a rising channel.
Test of structure triggered a strong bearish reaction and the price violated
the support of the channel.

For me, it is a strong bearish confirmation.
I expect a bearish movement to 182.5 level now.

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