GBPJPY BUY: Weekly, Daily & 4HR Breakdown

GBPJPY Thesis

- Weekly: Price is currrently resting on monthly support 136.50 with last weeks candle closing as a hammer candle signalling bullish strength entering the market. Previous 2 weeks closed as hammer candles.

- Daily: Market opened with huge gap to the upside opening above 137.25 creating new high. Next target for GJ is 138.15 resistance.

-4hr: Price is currently rejecting of 62% fib level with is an OTE. Also at an area of accumilation where smart buyers could push market to 138.15 creating new highs.

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Will update pair in a second. Still has room to move to the upside