GBPJPY fights back but for how long?

Good evening ladies and gentlemen

I hope it's been a fruitful day in the market for you all!

So to the GBPJPY. Today's update emphasises the need to draw in your S and R lines as part of your basic technical analysis! Price fell steeply yesterday shelling out just over 550 pips to who ever was prepared to take the ride. My question yesterday was how much further would price drop and on the 4 hour chart below you can see that it barely spiked through a strong S and R level before being held back which in turn caused price to spend most of today fighting back Bullish. In between S and R levels we use Fib Breather levels to tell us how far price could retrace before further moves, in this case South! Price is now sitting at a cluster of a Conservative Fib Breather Level, the S and R Zone and a RN of sorts! As we know as SM, price never moves in a stright line so the question is would this edge behave in our favour? As always all we can do is wait for the market to unveil itself and inturn gratefully and mechanically accept what is ours!

Are the indicators in unison with our analysis? I will leave it to you to do your own analysis!

I will leave you with this thought by the Great Nelson Mandela "It always seems impossible until it's done!"

Till tomorrow

Abundance ia your Birth Right

Zaheer Anwari