Why I Think GBPJPY May Continue to Sell...Technical Analysis
Hey Rich Friends,
I think GBPJPY will continue to sell today and maybe this week. This is only a technical analysis so check the news and cross-reference your charts/indicators. Here is what I am looking at:
- The market has already rejected the daily high of 188.852, which is a strong sign that it can continue to move down.
- The 4-hour low was broken, and sellers are picking up momentum on lower time frames.
- The stochastic is facing down, the slow line (orange) is above the fast line (blue), and both lines have crossed below 50
Sell stops are recommended. I will use previous lows as TPs and previous highs as stop losses. Good luck if you decide to take this trade. Let me know how it goes in the comments.
Peace and Profits,
Cha
I think GBPJPY will continue to sell today and maybe this week. This is only a technical analysis so check the news and cross-reference your charts/indicators. Here is what I am looking at:
- The market has already rejected the daily high of 188.852, which is a strong sign that it can continue to move down.
- The 4-hour low was broken, and sellers are picking up momentum on lower time frames.
- The stochastic is facing down, the slow line (orange) is above the fast line (blue), and both lines have crossed below 50
Sell stops are recommended. I will use previous lows as TPs and previous highs as stop losses. Good luck if you decide to take this trade. Let me know how it goes in the comments.
Peace and Profits,
Cha
Trade active
TP 1 HIT! +40 pips in profitTrade closed: target reached
TP 2 HIT! 
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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.