GBPJPY - 27 January 2022

In terms of 4HTF, price gives a 4H bullish CHoCH after sweeping the IRL from the left, although we are in bearish OF but price yet to give a decent pullback, therefore, the CHoCH can be see as a bullish intention for initiating the 4H pullback. In terms of 15mTF, price is now back into bearish OF after giving a 4H bullish CHoCH, we may expect price to continue down until it mitigates the 1H demand below the LQ. However, before that price could come back up and grab some more BSL before continue lower.