GBPJPY Analysis (5th April 2024)

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GBPJPY Analysis

On the 4 hour timeframe, price has created a Bullish Change of Character after testing the daily bullish Golden Fib level. This tells us that price action is actually bullish. However, overnight price action created a huge pullback which coincides with a 4 hour bullish breaker block.

On the 1 hour timeframe, We can identify a 1 hour orderblock that created the bullish move we had earlier on the week and it has yet to be tested.

Ideally what i want to see price do is come and test the 1 hour Bullish orderblock before creating a 15 minute change of character for me to look for potential buys on this pair, targets we will be aiming at will be the relative equal highs at 192.227.