The GBP/JPY has dropped after the bearish SHS variant has been formed in 4h time frame. We can see how the trend line break caused a direct drop to W L5 camarilla pivot. This is the important zone 147.00-15. We might see a spike towards a retest of trend line break or a further drop towards M L5. Watch for either bearish continuation or a bounce.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very StrongDaily Resistance)
DL3 – Daily Camarilla Pivot (Daily Support)
DL4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
