GBPJPY : Tried to find U-Turn

12:04 pm gmt+8

The overall movement is down, however... H4 and Daily chart already oversold and at the moment it's highly risk to enter SHORT position.

The market might try to find the U-Turn for BULLISH after very long journey for BEARISH....
If we take a look at H4 chart... we found that the previous candle is short body candle with long lower shadow... usually good sign for U-turn. However the current H4 candle tried to 'retrace' the lower shadow... it's also possible if the current candle of H4 break the previous candle's low.

I expect that market will BULL if price could break the level 194.67 .... So what can i suggest is stay out from market until market decide where to go.

SHORT - High Risk
LONG - Not yet confirm

p/s Or maybe you already forget about BULL and what is BULL anyway... LOL

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Result
8:48 pm gmt+8

As i said... market keep trying to get U-Turn for BULLISH... The price failed to break the last low 192.62.... and now the current BULL candle keep trying to reach the critical level for BULLISH confirmation, 194.79. However, maybe it's not so fast.

We just try to imagine on how about the trader's psychology around the world right now.... I thought some of them are taking profit and SELL the yen... That was the story behind the candle