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Sunday, July 25, 2021

GBPJPY Analysis July 25, 2021

GBPJPY Analysis July 25, 2021

On the weekly timeframe we can see that price formed a large wick to the downside which could signify a sign of reversal. If we are maintaining the overall bullish trend on this pair then we should see price surge to the upside.

snapshot
On the H4 timeframe we are at a potentially reversal area but it looks as though buyers are stepping in and taking over. I will only start to look for buys once price breaks above the 153.000 area. If price does manage to respect the current area then I will look for short opportunities.

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