A lot of manipulation going on with GBP/JPY. As you can see, the zone at the top of the chart is a level that has failed to break on the daily for nearly 300 days now, and 5 attempts. There was a fakeout on the 4hr to gain liquidity, however it only pushed back down.
Right now the zones drawn are to help see the levels that it could react to (despite GBPJPY reacting how it wants, manipulating many).
It has broken above the descending trendline and has started moving up, and now it has reached a supply zone.
We may see a possible bearish movement this coming week, however, it may rally above the current supply zone and reach the other levels above it.
Right now the zones drawn are to help see the levels that it could react to (despite GBPJPY reacting how it wants, manipulating many).
It has broken above the descending trendline and has started moving up, and now it has reached a supply zone.
We may see a possible bearish movement this coming week, however, it may rally above the current supply zone and reach the other levels above it.