GBPJPY
W1 - We can say that a strong “Head and Shoulders” pattern has already been formed. You can also pay attention to the formation of a 3-wave structure for a trend reversal. In this scenario, it would be possible to see the price at 164.120. Otherwise, if the price remains at these values, a triangular formation can be considered.
D1 - The price is moving in a small zone, in order to consider selling, it is better to wait for fixation at the level of 180.720 and try to consider short positions from these values.
What to expect now?
Wait until it fixes at the level of 180.720 and try to consider short positions from these values with targets up to 169.380.
Cancellation of idea 183,870 - 187,230.
Short
Targets 164,120 - 172,745 - 169,380 - 164,120
W1 - We can say that a strong “Head and Shoulders” pattern has already been formed. You can also pay attention to the formation of a 3-wave structure for a trend reversal. In this scenario, it would be possible to see the price at 164.120. Otherwise, if the price remains at these values, a triangular formation can be considered.
D1 - The price is moving in a small zone, in order to consider selling, it is better to wait for fixation at the level of 180.720 and try to consider short positions from these values.
What to expect now?
Wait until it fixes at the level of 180.720 and try to consider short positions from these values with targets up to 169.380.
Cancellation of idea 183,870 - 187,230.
Short
Targets 164,120 - 172,745 - 169,380 - 164,120