GBPJPY is currently on a confluence zone consisting of the weekly descending trendline and resistance region.
The market tested this confluence area with an inverted hammer on the weekly timeframe which is a strong bearish Indication.
Currently the market is facing a very strong bearish pressure, I expect a slight retracement to the upside after this Bearish pressure and after which the market continues in its Bearish trend
The market tested this confluence area with an inverted hammer on the weekly timeframe which is a strong bearish Indication.
Currently the market is facing a very strong bearish pressure, I expect a slight retracement to the upside after this Bearish pressure and after which the market continues in its Bearish trend