GBPJPY Price Action| Trend| Local S/R Swing Low

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Evening Traders,

Today’s analysis – GBPJPY – trading under local resistance where further downside is probable,

Points to consider,
- Price Action Corrective
- Local S/R Resistance
- Swing Low Objective
- Low Trading Volume

GBPJPY’s immediate price action is trading below a local s/r, a technical trading location that is giving price current resistance, allowing for a short bias.

The objective is the swing low, taking this level out will increase the probability of a trend continuation.

The current volume profile is below average, an influx is highly imminent when testing key trade locations.

Overall, in my opinion, GBPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“The market is a device for transferring money from the impatient to the patient.” – warren buffet

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