GBP/JPY Long Idea. Possible head and shoulders. Price has been on a sale ready and is currently bounced off a key level in the market (see yellow highlighted zone) with strong rejection (note long legged doji). Price is currently flirting around an additional key level in the market, at the 61.8% fib level from last swing low to swing high points. Stop loss placed beneath key area/wick rejection. Trade at your own risk. This is idea is for demonstration and educational purposes.
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Bears are not giving up; given structure of the market I believe we are in a small correction with a continuation. GBP news this week will impact as well
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