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GBP/JPY - Short to 179.000

FX:GBPJPY   British Pound/Japanese Yen
GBP/JPY             short to 179. Strong selling pressure towards end of last week. Price is at key support level so we may see a pull back to 182.500 before a move down. Keep an eye on the price action when the market opens on Sunday night. I will wait for break of level prior to entering trade.

Target level of 179.00 This coincides with ascending trend line, 200EMA and .618 fib.

As we can see price has moved higher than expected today. This shows how important it is to physically watch the price action as opposed to entering trades blindly with pending orders.

If todays candle closes above the 20 & 50 EMA we should start to look at long positions. Don't be afraid to change your bias!
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FollowMyTrades PRO FollowMyTrades
2 years ago
Price has now broken support level. Look for short entries on pull backs to support turned resistance.
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