British Pound / Japanese YenUpdated GBPJPY - 240 - A good start for the bears.
Quick idea.
The first step for the bears is done - the pair has broken the upside line. But what is really required, in order to get comfortable with further declines, is a drop below the highlighted support area. This way, GBPJPY would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
The first step for the bears is done - the pair has broken the upside line. But what is really required, in order to get comfortable with further declines, is a drop below the highlighted support area. This way, GBPJPY would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
Note
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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.