GBPJPY (long-term) | More reasons to short than to long
Updated
The currency pair is currently ranging in a trend, however the bearish trend seems to be becoming more powerful. Long-term and short-term Fibonacci lines confirm the possible movement of 9000-11000 pips downwards to the 135.00 region, whilst profits can be taken at intersecting Fib lines. Alternatively, the currency pair could continue to range, reach the 100% intra-day Fibonacci level @ the 158.00 region AND THEN sell downwards.
Trade active
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.