The following analysis is based on a 4 Hour and 1 hour Multiple Time Graph Analysis:
As you can see GBP/JPY has reached an Important resistance area, and has created a double top formation on the 4 hour chart and the RSI.
It should be a great short opportunity if it breaks the candle formation and goes under the 138.2 level - heading towards its 1st support area which is 137.1 and it fails to hold then 135.97.
SL 138. 250
Good Luck!!
As you can see GBP/JPY has reached an Important resistance area, and has created a double top formation on the 4 hour chart and the RSI.
It should be a great short opportunity if it breaks the candle formation and goes under the 138.2 level - heading towards its 1st support area which is 137.1 and it fails to hold then 135.97.
SL 138. 250
Good Luck!!