British Pound / Japanese YenUpdated basic price action set up
Well since the market is making lower highs and lower lows to me that makes it a clear downtrend. Its at a resistance zone that it previously rejected 150 pips from and to top it off it made a bearish engulfing pattern right at the resistance.
Trade closed: target reached
tp hit
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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.