Sell 149.20. Stop loss at 150.01. Take profit at 147.14.
Reason for the trading strategy (technically):
GBPJPY reversed off its resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 147.14 (horizontal swing low support)
Stochastic (89, 5, 3) is reversed off its resistance at 96% where it has a lot of corresponding downside potential.
Reason for the trading strategy (technically):
GBPJPY reversed off its resistance at 149.20 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect prices to drop to its support at 147.14 (horizontal swing low support)
Stochastic (89, 5, 3) is reversed off its resistance at 96% where it has a lot of corresponding downside potential.
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.
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.