We know that GBPJPY has been moving side ways in the last week. We can see that Price has been contained under the 135.00 even-handle number in the Weekly Impulse leg. The Weekly candle closed showing Indecision and the Daily candles also showed several indecision candles just below the even-handle number.
There are 2 scenarios we can trade GBPJPY this week:
1- If the Daily candle shows strong Bullish momentum, and closes strongly creating a Morning star or any candlestick showing bullish strength, we can expect the 4H range to break and can look to enter on the Higher Low.
2- If the indecision continues and GBPJPY finds bearish pressure from the 135.00 liquidity zone, we can look to short the market at the Lower High on the 4H.
PS: This is only for reference and the analysis is due to change with the ever-changing markets.
There are 2 scenarios we can trade GBPJPY this week:
1- If the Daily candle shows strong Bullish momentum, and closes strongly creating a Morning star or any candlestick showing bullish strength, we can expect the 4H range to break and can look to enter on the Higher Low.
2- If the indecision continues and GBPJPY finds bearish pressure from the 135.00 liquidity zone, we can look to short the market at the Lower High on the 4H.
PS: This is only for reference and the analysis is due to change with the ever-changing markets.