GBPJPY shorter term sell opportunity Short

British Pound/Japanese YenFXCM

Description

⋅ May 25, 2020 6:35 PM

As per previous CoT report, Non commercials adding aggressive short positions. This could be potential selling from institutional order flow reports.

From technical point of view, we could see that buyers are struggling to make highs.

I'll be waiting for buyers to burn out before going shorts.

You can Fibs or MA's for additional layer of confirmation

FX:GBPJPY

Order cancelled

⋅ May 26, 2020 12:55 PM

I haven't took the trade as the bullish pressure is aggressive. I'll be waiting for next key level to take decision.