Short

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):

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.

MasterAnanda

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