Where are you going GBPJPY?

Good afternoon ladies and gentlemen

My update is going up a little earlier than usual as I have a packed evening ahead of me. I hope you are all having a profitable day so far.

So to the GBPJPY and we were left wondering if price was being forced into a squeeze. Below is the 4 hour chart and we can see that price actually shot straight through the trend line and is now retesting the Fib Breather level. RSI crossed over the midline, which it was threatening to do but is facing back down and look as if it may cross bacl below the midline. MACD has been doing higher highs but could we now see lower highs to indicate a move south? Price is currently doing a spinning top but we still have over an hour before the next bar opens on this time frame so we just have to wait and see what happens. Could we see price hit a more aggressive Fib Breather level or even a retest of the VI? I will leave you to do your own analysis!




I will leave you with this thought "Don't step into the river without knowing it's depth!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari