GBPJPY – LH at Role Reversal Level After Corrective Pullback | Apr 3rd

GBPJPY – Lower High After Corrective Pullback
Showing a little weakness after such an impressive bull run, the GBPJPY is now holding below the role reversal level, and the 20 ema on the 1hr chart. Flash to the 4hr chart and its holding above the 20 ema, but the bounce so far has been weak and possibly forming an LH (lower high).

If the role reversal level holds, bears can get short here with tight stops above. Downside targets are 172.19 and 171.79. If we get strong push above the role reversal level, then another attack on the swing highs just below 173 seems most likely.

gj daily market commentary

Don’t miss our latest article on 4 Ways to Improve Your Trading

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article