ProCFDTrader

Analyzing GBPJPY from a seller's perspective

FX:GBPJPY   British Pound / Japanese Yen
After the drop to 135 last week, GBPJPY has rallied up to the 136.60 level which is also the previous high. The rally has happened within a micro price channel which often leads to exhausted bulls.

If GBPJPY reverses from this resistance level then there's chance for another drop . However, I don't advise selling it now. Instead, wait and see if a couple of bearish candles form at this resistance level . After that, you will get a safe sell entry.

Possible sell entry could be 136.62 with Sl above 136.97 and TP at 135.60
Order cancelled: Bearish candle didn't form at resistance
So, this set-up is invalid now

Comments

And I have happy you are back
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ProCFDTrader vagi12345678
@vagi12345678, Happy to post :)
+1 Reply
Very informative
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ProCFDTrader vagi12345678
@vagi12345678, Thank you :)
+1 Reply
vagi12345678 ProCFDTrader
@ProCFDTrader, and don't stop posting.. I only have your telegram channels as you are consistent.. we are silently clapping
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