GBP/JPY - Trend Reversal

FX:GBPJPY   British Pound / Japanese Yen
Today we have one for the trend traders on a Weekly chart with GBP/JPY             .

Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.

I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.
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Never noticed this, thanks for the share!
jangseohee jangseohee
apologize, broken post
you are welcome
i start from big forest pic
Solid analysis, it's always good having multiple views of the same currency pair!
an extreme, fast maked setup:
Exactly what I was thinking, got a head and shoulders on the 4h which links up perfectly with this analysis

it drop more than it did ^_^
time to go up
Totally agree with you, once price hits our resistance we should see a massive move to the downside.
That is exactly how I am seeing it. Am I the only one who saw the gap down??!! I also see more traders looking to get long than short and that is another indicator that the price is going down. Thank you for sharing
Sometimes you need to go into the longer time-frames to see where price is actually going, I never noticed until now lol. Thank you for commenting :)
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