In the previous post, I mentioned GBPJPY could reverse up. After that, I closed my long position with small profit when I saw the upswing was weak. I am becoming more bearish on stock market overall, thus yen pairs could strengthen further in general.
It is possible that GBPJPY is still in the midst of wave C, and it could go down further as wave 5 of wave C. This view could be further strengthened if the S&P500 futures goes down in the beginning of the week (see my other post on S&P500 ).
[GBPJPY 15min chart]
Crypto liquidity provider Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with extra information? It is extremely helpful for me.
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