H4
~GBPJPY traded sharply higher on Thursday, after hitting support near the 151.60 zone. Overall though, the pair continues to trade below the downside resistance line drawn from the high of June 24, as well as well below a longer-term one taken from the high of May 27. With all that in mind, we would see decent chances for the bears to jump back into the action soon and push the pair down.
~Downward tendency and structure continues as price is still below support
~GBPJPY traded sharply higher on Thursday, after hitting support near the 151.60 zone. Overall though, the pair continues to trade below the downside resistance line drawn from the high of June 24, as well as well below a longer-term one taken from the high of May 27. With all that in mind, we would see decent chances for the bears to jump back into the action soon and push the pair down.
~Downward tendency and structure continues as price is still below support