GJ short

5 thg 4, 2022

GBP/JPY has created a rising wedge, this typically signifies a drop in price. There is a saying that a rising wedge is falling and a falling wedge is rising. Meaning no matter what the type (reversal or continuation) a rising wedge is bearish and a falling wedge is bullish. Currently the pattern has not yet fully formed, waiting for candles to get smaller with longer wicks into the wedge a bit more. I'm thinking the drop will happen when the tokyo session opens up at 7pm CT. Could drop before that so keep an eye out! TRADE WITH CAUTION.