GBPJPY Channel - short and long opportunities
GBPJPY has been in a steady downtrend since early 2018.
Price is approaching the supporting trendline for this channel around 132.00. Notice the price is moving against the momentum.
Towards 132 , the bias is short.
At 132 , looking for signs of a reversal to the upside to test the 138 level ( now acting as resistance) , before price resumes the downtrend to major support at 126.
Price is approaching the supporting trendline for this channel around 132.00. Notice the price is moving against the momentum.
Towards 132 , the bias is short.
At 132 , looking for signs of a reversal to the upside to test the 138 level ( now acting as resistance) , before price resumes the downtrend to major support at 126.
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