GBPJPY ANALYSIS UPDATE

Good evening traders, I hope you're all okay and have taken advantage of the momentum in the markets seen after the FOMC news release which I'll talk about in a short while. However, GBPJPY price rallied back into BOS, breaking it and rallying to the previous H1 & H4 high at 166.100 where price failed to break it, formed a strong rejection wick on H1 & H4, candle close followed by a strong drop in price confirming the shift in market structure to bearish. Price first dropped 140 pips to the previous H1 BOS, retested it then continued with the drop to the next H1 & H4 low at 163.000 which was my target for the shorts I previously took, a 280 pips move.

I missed the move after price rallied back to BOS and broke past my level on interest at BOS level but price reversed at the next H1 high and dropped to my target at 163.000.