GBPJPY at an interesting zone for short but no confirmation yet.
Hello traders,
GBPJPY is at trend line resistance, 88.6 Fib from previous high low (forming a BAT) and previous structure resistance level.However, there is no confirmation yet for short. The weekly candle of USDJPY is extremely bullish(USD strength and JPY weekness) which may make this pair to go further up.
I will take short only if i see a bearish daily close other wise no trade. Also note the daily RSI shows it still has room to go further upside.
Good Luck!
GBPJPY is at trend line resistance, 88.6 Fib from previous high low (forming a BAT) and previous structure resistance level.However, there is no confirmation yet for short. The weekly candle of USDJPY is extremely bullish(USD strength and JPY weekness) which may make this pair to go further up.
I will take short only if i see a bearish daily close other wise no trade. Also note the daily RSI shows it still has room to go further upside.
Good Luck!
Comment:
I also like a long term buy for this pair. Please see the chart in the comment.