GBPJPY SHORT (D) - Chart Analysis by Request @alanmasters
The British Pound is looking bearish against the Japanese Yen (GBPJPY).
Chart analysis and signals for GBPJPY (1 Day Time Frame):
Note: If price breaks and closes above 143.30 (EMA100), these signals are invalidated and a new analysis is needed.
This is not a trade advice. This analysis was done by request to please one of our great followers.
Thanks a lot for the continued support.
Namaste.
Chart analysis and signals for GBPJPY (1 Day Time Frame):
- Direction, resistance and support levels marked on the chart.
- On the higher time frames, GBPJPY is in a downtrend.
- After a strong bounce, it didn't manage to break above EMA200 (orange line) and started to retrace easily breaking below EMA100 and EMA10.
- When price is trading below EMA10, that's leaning bearish (bearish potential).
- Volume is decreasing.
- MACD Histogram favors the bears.
- GBPJPY is to continue falling.
Note: If price breaks and closes above 143.30 (EMA100), these signals are invalidated and a new analysis is needed.
This is not a trade advice. This analysis was done by request to please one of our great followers.
Thanks a lot for the continued support.
Namaste.
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