GBPJPY Trend Continuation Week of March 18th
W=Bullish.
D=Bearish.
4H=Bullish.
Daily broke the higher low to become bearish but 4h shift structure to bullish creating an inverse head & shoulders. 4H recently broke the neckline of the pattern. 1H has a pennant formed. Weekly is also bullish rejecting the 50% fib level. Expecting price to break the pennant and S&D zone and continue to upside for long term gains. Daily will shift back to bullish structure.
D=Bearish.
4H=Bullish.
Daily broke the higher low to become bearish but 4h shift structure to bullish creating an inverse head & shoulders. 4H recently broke the neckline of the pattern. 1H has a pennant formed. Weekly is also bullish rejecting the 50% fib level. Expecting price to break the pennant and S&D zone and continue to upside for long term gains. Daily will shift back to bullish structure.
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