TraderAvDM

GBPJPY giving conflicting Signals, trade carefully

FX:GBPJPY   British Pound / Japanese Yen
Hello friends, I am getting conflicting signals from the GBPJPY Chart. On the hourly chart, it looks like downtrend is dominant. A break below the lower TL of the structure will confirm the bearishness.

However, have a look at the daily chart here.

The last two daily candles indicate that bears may have run out of steam. Although I made close to 150 pips from my two GBJPY sells last week, I will not rush into selling this cross without some solid confirmation.

I will wait for some confirmation before selling further. I suggest everyone to be a bit cautious while trading the Dragon.

Comments

nice one Prof. We just wait for the bulls to push a bit.
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Very good, signal. So, no one comment yet
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Looking forward for a sell too!
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Thank you very much , great analysis
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Great analysis!
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Great analysis
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