CapMoore

Price testing the lower Kumo Cloud and Weekly S2

FX:GBPJPY   British Pound/Japanese Yen
12 0 1
The pair has fallen sharply after gapping below the Monthly PP
at 191,00 and has now reached the lower Kumo Cloud support after
a daily 200+ drop. Possible bounce from here, with the
Weekly S2 adding support, but generally, price seems to be
heading towards the Yearly S1 (after breaking out of the cloud)
at 187,40. A bounce towards 190 seems favourable for shorts,
but intraday sell signals may be just as interesting, since the
direction is clear. Though avoid shorts at this confluence
support (188,40-70)
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