GBPJPY
As per the graph, a nice head and shoulders pattern has formed on the daily chart indicating a reversal. I would like to see a break of the Daily ascending trendline, a retest and an impulse to the downside.
The weekly and monthly charts indicate an over-bought RFI.
Please like and follow if you like my analysis
The weekly and monthly charts indicate an over-bought RFI.
Please like and follow if you like my analysis
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We have seen a break of the ascending trendline, a retest and we need a big impulse to the downside. The Daily chart is showing that the pair is overbought. Put your SL above the shoulders adding as an additional form of resistance along with the aforementioned trendline.
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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.