GBPJPY Price Action Breakdown 2/10/22
There was GBPJPY news earlier this morning at 4am and as you can see this caused a strong bullish move to the upside. Waiting for 8:30am to see if US news will have an effect on this pair. Right now price is in a range but once the range has been broken it can possibly continue the bullish momentum or retrace the entire move from earlier this morning.
1. Strong bullish move from an area of consolidation
2. Price is currently consolidating to build up momentum
3. Price is forming higher lows and respecting structure
4. With NY volume, price can possibly continue bullish until 157.4
5. If price breaks its lows, it can retest 156.85
1. Strong bullish move from an area of consolidation
2. Price is currently consolidating to build up momentum
3. Price is forming higher lows and respecting structure
4. With NY volume, price can possibly continue bullish until 157.4
5. If price breaks its lows, it can retest 156.85
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