British Pound / Japanese Yen

Short

GBP/JPY: daily supply short +400 pips

By Sphinx_Trading

Updated

- Price broke the last equal high at 162.0 grabbing the liquidity above it.
- Now we can see price is heading to 166.0 Strong supply zone.
- We may have a bearish move from 166.0 supply zone to the last demand zone at 162.0

Note

- Ascending corrective channel on 5m.
- Heading to 166.0

Trade active

- Big bearish 1 closure after testing 166.0 supply zone.

Note

- Price broke the last low at 164.0.
- fully retest on 164.500 supply zone.

Note

- Price reached 163.0 demand zone.
- 300+ pips till now.

Note

- New low high formed.
- New pivot 163.0 for shorting to 162.0 demand zone.

Note

- Huge bearish 4h closure after accumulation.

Trade closed: target reached

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