Possible short position for GBPJPY. Price has completed a pullback to the trend line after it had already broken out of out towards the downside. We can now expect further decline in the price as it Is currently moving below all three moving average indicators on the chart which are the 20 EMA, 50 EMA and the 200 EMA. This indicates a strong short bias for us. Will also cross check this analysis with the upcoming news for next week but I am feeling confident with this one.
Note
Update stop loss to 145.450Note
False break out, small stop loss hit
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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.