GBPJPY recently travelled up north and took out the buy side liquidity resting above 166.20 as indicated with the blue dashed line before travelling south to cause a break of structure. Price is currently now reacting from a Supply level and point of interest and can be seen on lower times to be mitigating this zone. we can also see that price also grabbed liquidity resting above this POI. looking for price now to begin travelling down south first to grab all the sell side liquidity resting below 161.10 which would be about a 200 pip move. look to partial out here and have a small position to run the week demand at 159.40.
Remember to always practice good money management and apply proper risk management.
Remember to always practice good money management and apply proper risk management.