GBP/JPY - Trend Reversal
Today we have one for the trend traders on a Weekly chart with GBP/JPY.
Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.
I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.
Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.
I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.
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