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.
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