FenzoFx—GBP/JPY swept the previous day's high, forming a bearish long-wick candle with resistance at 200.2.
A bearish fair value gap appeared on the 5-minute chart, signaling increased selling pressure after liquidity was swept. Technically, GBP/JPY may first target the Asia low at 199.4. If bearish momentum continues, the move could extend to the previous day's low at 198.7.
This outlook is invalidated if the pair closes above today's high at 200.3.
A bearish fair value gap appeared on the 5-minute chart, signaling increased selling pressure after liquidity was swept. Technically, GBP/JPY may first target the Asia low at 199.4. If bearish momentum continues, the move could extend to the previous day's low at 198.7.
This outlook is invalidated if the pair closes above today's high at 200.3.
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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.