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GBPJPY Forecast for OANDA:GBPJPY by Kachala

Hello traders:

Last week we have seen some volatility in the market, and looks like due to the current global events that are happening,

we could see some strength in the safe haven currency across the market.

Of course still follow a plan to enter according to your perspective and view.

Here on GBPJPY , we can see price on the lower time frames ( LTF ) has correctively move up to a double tops and there is reversal price action to push down the price on Friday.

What we can be on the look out for is if price does form continuation correction, it can complete this “M” structure reversal, and confirm further downside of the price.

So lets wait and see this week on how the price can develop on Monday. If price doesn’t form bearish continuation and move up, then of course no entry and no trade. Move on to other opportunities :)

Thank you

DISCLAIMER:

-My forecast and analysis are NOT trading signals nor financial advice, you should not enter trades and invest solely on this information.

Comment: With the tension between Russia and Ukraine could ease off and slow down, this could affect the bearish vias and view on the saven haven JPY pairs. Will be extra careful and patient to observe more development before consider entries. If no bearish action form, no then trade and move on to other opportunities.

Comment: Still looking for bearish opportunities

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