GBPJPY Analysis 16/10/2022

GJ is at a very important level, if price breaks and retest the current resistance then it could be looking to make a significant move up to the next major level... alternatively, because of the previous rejections we could see it go back down to the 50% fib level ... no trades here until we get good confirmation, either way it could be a big move. But it did have a very strong push up on the Daily so the bias is probably still towards the upside, and if it does break it will most likely move aggressively.

Be careful with this one.