GBP/JPY - Trade what you see, not what you think
We've had 2 leg touches on the GBP/JPY - both seemingly at the price level of 146.340 - We're still waiting for the 3rd leg touch before we get a massive rejection as there's a lot of sellers at this time on the GBP due to instability in the UK because of the Brexit - We've had some positive news today from the UK, it's had an economic growth of 0.3% but that still doesn't guarantee us a strong economy as the country was before.
Due to this fundamental news, we can assume that the GBP will have a bit of buyers but not more than sellers, the sellers are waiting at a significant event area, the right time for the market to drop. The only requirement now is to allow the market to come to you and not chase it.
Due to this fundamental news, we can assume that the GBP will have a bit of buyers but not more than sellers, the sellers are waiting at a significant event area, the right time for the market to drop. The only requirement now is to allow the market to come to you and not chase it.
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