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GBPJPY - Lack of momentum!

Short
British Pound / Japanese Yen (FX:GBPJPY)  
UGTraders Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis GBPJPY
17
0
trendanalysis chartpattern waveanalysis gbpjpy
In our previous idea
GBPJPY - GOOD SUPPORT !
GBPJPY bounced hard from a support level which is supposed to bounce the prices back, However, , looking closely to the current market structure shows a lack of momentum which suggest that the market would distribute for a while before going back to test 06/18/2019 low!

Take this scenario into consideration and wait for the market to show slippage before deciding to short the market


To be updated...
Comment:
A better estimation if the market showed slippage

snapshot
Comment:
here it's more clear one

snapshot
Comment:
Well done, the market didn't show any slippage so the first scenario took place!

snapshot

I'll target a short trade right now but let me first update the analysis

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