GBP/JPY Bearish Order Block Might Show Fresh Sellers

Hi traders,

The GBP/JPY has made a nice bearish move in the wake of Brexit negotiations where each news makes a volatile move in the whole GBP basket.

The price has reached M L4 camarilla level, 1/8 MM pivot and quickly made a pinbar after profit taking. The chance is for a bearish continuation on a successful retest of the POC zone 143.00-20. Bearish order block is aligned with MM and Camarilla so we could see a rejection towards 142.10 and 141.40. Only a close below 141.40 will cause further bearish momentum targeting 140.60 zone.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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