GBPJPY Short Technical Opportunity
Technical analysis:
•50 EMA rejection
•200 EMA rejection
•61.8% retracement rejection
•Rejection of Key Horizontal Support/Resistance line @ 185.000
•Down-trending Market
•Deceleration present
•Tweezer Tops candle pattern
•GBP/USD and SPX500 are both showing bearish momentum
(weakness in the SPX500 often means strength in the Yen as a safe haven)
Negative Factors:
•Price action has made a higher high and a higher low recently, but this
can be seen as a pullback to create value.
Other Notable Factors:
•Note that the 50 EMA and 200 EMA are about to cross, which would
support a move lower
•50 EMA rejection
•200 EMA rejection
•61.8% retracement rejection
•Rejection of Key Horizontal Support/Resistance line @ 185.000
•Down-trending Market
•Deceleration present
•Tweezer Tops candle pattern
•GBP/USD and SPX500 are both showing bearish momentum
(weakness in the SPX500 often means strength in the Yen as a safe haven)
Negative Factors:
•Price action has made a higher high and a higher low recently, but this
can be seen as a pullback to create value.
Other Notable Factors:
•Note that the 50 EMA and 200 EMA are about to cross, which would
support a move lower
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.