GBP/JPY Short idea
GBP/JPY recently broke a trendline of an uptrend. Also currently the price made a triangle pattern, of which we will see a breakout in either direction. However, we could expect the price to retest a broken trendline or to bounce off of 0.618 Fibonacci level of a recent swing move which also broke previous uptrend structure and gave us a bearish market structure.
Additionally, the price has move bellow 200 MA (in pink area), on 15 min. timeframe, which also indicates a shift of the trend towards the downside.
Additionally, the price has move bellow 200 MA (in pink area), on 15 min. timeframe, which also indicates a shift of the trend towards the downside.
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.