I believe price will drop as candlestick broke price action of bullish uptrend and rejected testing area of resistance. Will be looking at this pair all week
Give comments and feedback below of your idea
Thank you
Best of luck trading
Kwmae
Following up with UsdJpy
Seeing weakness and rejection of weekly resistance zone
Ma coming closer together potentially crossing (Great sign of Market reversal)
Red candlestick to close out the day for the middle of the week (Indication of selling pressure as US had FOMC Meeting and CPI Reports this week)
Using Fib to Mark key level of potential...
U/J showing signs of reversal (15m-30m) towards the downside, as price has reached a level of resistance and shows sign of dying momentum at the peak.
RSI revealing divergence a great sign of price reversal
Will enter for a Short position when MA cross and SARS are indicated above candlestick confirming bearish trend.
DYOR NOT FINANCIAL ADVICE
Comment thoughts...
A simple ascending channel for gbpjpy wait for pull back and rejection from bottom line to buy. Wait for the opposite to sell. Currency meter indicates GBP stronger than Yen so consider more buying opportunities from pullback. DYOR!!
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GoodLuck Trading
