Dear traders,

Last time I wrote about GBPUSD.

The pair has since went up over 300 pips.

It is currently forming a minor uptrend, so it would be interesting to follow up and see where this pair will take us.

For now, I am neutral, but GBPUSD looks more bullish than bearish.

USDJPY Trading Analysis 10.01.2022

USDJPY looks like it is beginning to top out.

There is a major supply zone at around 115.500.

There is an inverted pin bar that formed on the weekly chart.

The daily is showing us a slowing sign, as well.

There are three black crows, which is a bearish candlestick pattern.

Combined with the failed breakout at a major supply zone, this bodes well for the short-sellers.

When the market opens, I will be looking for a potential short entry.

Before that, I would ideally like to see a 4H bullish rejection, as well.

This could be in the form of an inside bar, inverted pin bar or a bearish engulfing pattern.

Until that happens, I will be patiently waiting!

Happy Trading,

Colibri Trader

P.S. Have you checked my recent article on Swing Trading Indicators?

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