GBPJPY False Break?

2 thg 2, 2022

currently GBPJPY is trying to form a bullish movement. But I see movement rather than bullish while GBPJPY is not so good from a price action point of view. Then I found that there are 2 Fibbonaci areas, namely 50.0 Internal Retrachment and 1.618 external retracement meeting a minor resistance at 155.414. My assumption is if the price is not able to penetrate the area and false break. Possibly the price will move bearish again to touch the strong support area at 153.138.

Note : The market will always change, I'm just sharing my view on the possibility the market will go away. If you have a different perspective from your analysis view, let me know in the comments.