GBPJPY SHORT
Price has been on a consistent downtrend for months, trading below all EMA's indicating we should look to short. In addition, price is sitting at a key resistance right at the 50-61.8% fib zone. Price is also looking to create a head and shoulders pattern. What i'm looking is for price to break that neckline and retest, forming a new lower high. If price can do that as well as reject that zone to the upside, I'll be inclined to short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.