GBP/JPY-4 Hour overview

Hello everyone!

-On a 4-hour time frame, we can see that the price broke through a yellow support line with a strong bearish candle.
-I consider the yellow support line as a strong support line because in the past we had plenty of rejections and now that support line is broken.
-I expect that the yellow support line will be new support if the price test that line and reject.
-If the price continues moving in a bearish direction I expect a new support line(first blue line) and if that price breakthrough that line, I expect next support(second blue line),...-But that is just my opinion!

-On a daily base, JPY is stronger than GBP and on a 4-hour base, JPY is still stronger than GBP.
If the JPY and GBP remain like this, we can expect further bearish movement and if GBP gains some power and JPY loses some of its power then we can expect bullish movement.

-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!

THANKS FOR READING!

-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.

-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.