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GBPJPY 27 Jun 2023

GBPJPY 27 Jun 2023 on the H4 timeframe, the pair successfully penetrated the 61.8 Fibo level last week touching 182.759 and then continued moving sideways until now at 182.621. Although it is currently ranging between the 61.8 and 100.0 Fibo levels, the pair is likely to experience a bearish trend when referring to the MFI indicator. This possibility can also occur if the pair touches R2 later. Therefore go-short can be an option for traders for the next session. But on the contrary if this pair is able to maintain and even break the 100.0 Fibo level and then bullish then go-short is an option. Stay alert to market changes.

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