FenzoFx—GBP/JPY trades sideways after dropping below 198.59. A recent momentum shift formed a bearish order block at 199.53. The outlook stays bearish if price remains below this level.
The 4-hour chart reveals equal lows at 198.3, a key target. For the bearish trend to continue, price must stay under the midpoint of the order block. If selling pressure persists, 197.85 is the next target. A break above 199.53 would invalidate this setup.
The 4-hour chart reveals equal lows at 198.3, a key target. For the bearish trend to continue, price must stay under the midpoint of the order block. If selling pressure persists, 197.85 is the next target. A break above 199.53 would invalidate this setup.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.