As seen from my previous post on GBPJPY, the trend is bearish and it seems that it's forming a head and shoulders pattern before it continues the downtrend to new lower lows. The price reached more than 60% on the Fib retracement, therefore we have a valid new lower high. The next lower low is expected to be at: 150.733.
Trade closed: stop reached
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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.