GBPJPY: I have a love/hate relationship with this pair. It can make you win a lot, or lose a lot.
Price is approaching several weekly demand zones. My favorite sweet spot would be the 135.5-136 region because that's where we can find strong 4hr, daily and weekly demand zones.
We definitely have a chance for price to continue for another 500 pips down until it reaches the above mentioned zones.
At the same time, there is some strong support at the 140 area as the triple bottom can be seen.
I personally do not mind taking the countertrend zones between 139-139.5 since I am seeing some slowdown in momentum.
Good luck to all!
Price is approaching several weekly demand zones. My favorite sweet spot would be the 135.5-136 region because that's where we can find strong 4hr, daily and weekly demand zones.
We definitely have a chance for price to continue for another 500 pips down until it reaches the above mentioned zones.
At the same time, there is some strong support at the 140 area as the triple bottom can be seen.
I personally do not mind taking the countertrend zones between 139-139.5 since I am seeing some slowdown in momentum.
Good luck to all!