Ok, So you expect a reversal for the next hours(day).
Looking at higher time frames I can see the following
Weekly - This week so far shows a well enforced dark cloud cover and completely absorb last week candle - Also we are in a resistance area established in Oct08 and never violated since. So We might be at a stop in the last weeks up trend - reversal is possible for next week.
Daily - since Friday 12 June we are in a down trend and today's candle seem it will be a hammer, but the hammer does not stand out much out of the last candle - Possibly a pause in the down move
4H & 1H are in down trend and actually price is dancing at the resistance level of the trend, a clear break out of that resistance could see the start of a new 4H - 1H up trend and may validate the last 1H Fractal at 158.02.
15M -has just bounced the 1H resistance line while I was writing - also a divergence is building up on the Awesome Osc.
5M & 1M - A divergence in more obvious on the 1M than on the 5M
So I believe GBPJPY needs to reload batteries and is preparing a dip to 156.60 which was the last resistance area.
What do you think?
Gerry
Looking at higher time frames I can see the following
Weekly - This week so far shows a well enforced dark cloud cover and completely absorb last week candle - Also we are in a resistance area established in Oct08 and never violated since. So We might be at a stop in the last weeks up trend - reversal is possible for next week.
Daily - since Friday 12 June we are in a down trend and today's candle seem it will be a hammer, but the hammer does not stand out much out of the last candle - Possibly a pause in the down move
4H & 1H are in down trend and actually price is dancing at the resistance level of the trend, a clear break out of that resistance could see the start of a new 4H - 1H up trend and may validate the last 1H Fractal at 158.02.
15M -has just bounced the 1H resistance line while I was writing - also a divergence is building up on the Awesome Osc.
5M & 1M - A divergence in more obvious on the 1M than on the 5M
So I believe GBPJPY needs to reload batteries and is preparing a dip to 156.60 which was the last resistance area.
What do you think?
Gerry