GBPJPY: Top-Down Analysis & Nice Short ๐ฌ๐ง๐ฏ๐ต
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.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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