GBPJPY is trading close to 61.8% fibonacci on a 4h chart, which has previously been respected multiple times. EMA 200, which also has been respected as a resistance, is close to the fibonacci 61.8, and RSI is close to being overbought. All this, accompanied by the fact that the candle is a shooting star makes me go short on this pair. It could however be wise to...
EURJPY is trading close to a strong resistance, formed on weekly chart, as well as fibonacci 50% formed on daily chart. RSI is close to being overbought and the buying pressure is slowing down, showing that the pair could go down soon.
SL is above the mentioned resistance zone.
Entry: 127
SL: 127.6
TP: 125
Risk/Reward: 3.33
The price has been rejected by Fibonacci 61.8 (110.5) and the TL from 2013. RSI and Squeeze Momentum (Lazy bear) is showing strength, and MACD is flattening out at bottom. EMA 200 is still in an uptrend.
Entered a long position at 113.5 with SL at 109, below TL from 2013 and fibonacci 61.8. Target 1 is the resistance at 116.3, and target 2 is 123, right below TL...
