the Gopher swimming in significant liquidity pool

since 17 November the Gopher has been trading in a parallel bearish channel failing to trade/close above and above it, with the top and bottom trendline of the channel acting also as dynamic support and resistance.

price has found itself in weekly liquidity pool made of significant levels - (i) weekly supply of proximal price of 146.700 now acting as demand on smaller timeframes (ii) weekly demand CP of proximal price of 146.400.

i forecast higher USDJPY prices because price has found support on the bottom trendline of channel and is reacting to liquidity pool with the bottom price of the liquidity pool being demand level which is currently the significant level in control of price.

i have bullish targets to 4HR previous demand of proximal price @ 148.900.


put together by : Pako Phutietsile ( @currencynerd )