Previous Daily Close for GBPJPY closed Directly under 149.250 in the Daily TimeFrame. Overall outlook saw a massive rejection at the Fibonacci level of 38.20% in the Daily Time frame which also happened to be slightly below 149.750.
Price is currently consolidating between 149.250 and 149.000.
In the 4 hour TimeFrame price again rejected at the Fibonacci level 38.20% which also had the Body of the candle closing below 149.500.
Price just pushed through 149.250 in the 4 hour TimeFrame and has few minutes till current candle closes. If current candle closes below 149.250 switch to a smaller TimeFrame and find sell signals not forgetting proper risk management..
Follow Your Trading Plan.
In the situation where price decides to close above 149.250 wait for buy confirms in a smaller time frame .
Price seems to be ranging between a Hot Zone ( 149.750 and 148.750)
**RISK MANAGEMENT**
Price is currently consolidating between 149.250 and 149.000.
In the 4 hour TimeFrame price again rejected at the Fibonacci level 38.20% which also had the Body of the candle closing below 149.500.
Price just pushed through 149.250 in the 4 hour TimeFrame and has few minutes till current candle closes. If current candle closes below 149.250 switch to a smaller TimeFrame and find sell signals not forgetting proper risk management..
Follow Your Trading Plan.
In the situation where price decides to close above 149.250 wait for buy confirms in a smaller time frame .
Price seems to be ranging between a Hot Zone ( 149.750 and 148.750)
**RISK MANAGEMENT**