GBP/JPY buy signal Analysis

14 Jan

Hello traders, In our recent price action on GJ we saw a nice bullish momentum. Despite I was bearish last week and I was wrong about the biais I didn't took any action and didn't push any button as the anticipated shift in momentum didn't materialize. This week, my perspective has shifted, and I now anticipate the bullish trend to persist. We saw a retracement into a daily IRL, establishing the sell side of the curve. My current expectation is for the market to take the ERL. For me to consider any entry, I'm waiting to see if we get a stop hunt and a clear shift in momentum. So I would consider an entry.