GBPJPY - Intraday - We look to Sell a break of 155.94 (stop at 156.25)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of yesterdays low would confirm bearish momentum.
We are trading at overbought extremes.
A higher correction is expected.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our profit targets will be 155.07 and 154.87
Resistance: 156.80 / 157.10 / 157.40
Support: 156.40 / 156.10 / 155.80
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of yesterdays low would confirm bearish momentum.
We are trading at overbought extremes.
A higher correction is expected.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our profit targets will be 155.07 and 154.87
Resistance: 156.80 / 157.10 / 157.40
Support: 156.40 / 156.10 / 155.80
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Related publications
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.