GBPJPY UPDATE

GJ is potentially lining up for a nice long position, 1D 4H TF are bullish in a strong uptrend and have recently provided us with a nice correction, the corrective move is currently testing the golden ratio 61.8%. I am expecting to see a new impulsive wave and the market to fill in the wick of the previous week.

On the LTF we can identify how price continues to consolidate in this sideways range, above/below the highs/lows of the range there are stops, if the market sweeps the lows first and comes into my 4H POI I will consider looking for a LONG entry confirmation according to one of our strategies. If price takes out the highs of the range first this setup is INVALIDATED.