British Pound / Japanese YenUpdated GBP/JPY rally stops at the resistance level, More decline?
Dear traders, in a quite expected move, GBP/JPY rallied almost 200 pips
from 172.65 and reached the resistance level as indicated in my chart.
Currently, we are seeing the formation of multiple bearish candlesticks in
the 4H chart. So, this gives us a moderate bearish bias.
If this bearish price action persists, traders can consider selling GBPJPY@
174.40-.174.70 with SL above resistance and TP at 172.60.
from 172.65 and reached the resistance level as indicated in my chart.
Currently, we are seeing the formation of multiple bearish candlesticks in
the 4H chart. So, this gives us a moderate bearish bias.
If this bearish price action persists, traders can consider selling GBPJPY@
174.40-.174.70 with SL above resistance and TP at 172.60.
Trade active
Sold at 174.38
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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.
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.