It’s back to the GBP/JPY as the London forex session gets into full swing and as expected the GBP/JPY reversed strongly after the session crossover, trapping many forex traders into weak positions. First comes the rapid price action in one direction, and triggering the volatility indicator which is so powerful and signals congestion or a reversal. In this case the latter. This triggers the fear of missing out, FOMO, with the consequent reversal duly trapping many into weak positions. It’s a technique the market makers use constantly and daily at the crossover sessions whether as here from Far East & Asia into London, or London into the US markets later in the day.
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