GBPJPY Analysis
GBPJPY
- Clear inverted head and shoulders pattern on the weekly TF
- Right shoulder has formed and is at a major level of support and resistance
- Due to the H&S forming on the weekly and having the previous week being controlled by bears, I will be looking for a possible reversal at this zone
- Keep in mind whenever there is a big impulse to either side a correction is almost inevitable to transpire
- Will be looking for a long position outright but with a break and retest of the neck line we could see the bears continue
- Clear inverted head and shoulders pattern on the weekly TF
- Right shoulder has formed and is at a major level of support and resistance
- Due to the H&S forming on the weekly and having the previous week being controlled by bears, I will be looking for a possible reversal at this zone
- Keep in mind whenever there is a big impulse to either side a correction is almost inevitable to transpire
- Will be looking for a long position outright but with a break and retest of the neck line we could see the bears continue
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