GBPJPY has a stranded bearish Pin Bar on its daily time frame, from its close the previous day. Price was however quickly rejected as it fell within its demand zone. The short term trend on the pair is marginally bullish but the 153.00 psychological supply zone had acted as resistance in the recent past and price is presently having difficulty breaking through - a situation that lead to the formation of the stranded Pin Bar (A Failed Break). For any reasonable bearish entries, we may have to see another clear failed break of the 153.00 supply zone.
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