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TkCha

GBPJPY Short Opportunity

Short
British Pound / Japanese Yen (FX:GBPJPY)  
TkCha Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators
4
0
trendanalysis chartpattern indicator
Here, we have GBPJPY at Daily trend line resistance level. As you can see here on this 4HR chart, the pair currently show overbought conditions on both RSI and Stochastic. I believe this is a good entry level. Your SL should be at a logical area above the resistance trend line and aim for first potential target @ 153.33.

1st Target - 153.33
2nd Target - 153.00
3rd Target - 152.62
Comment:
Possible H&S formed in 1HR chart
snapshot
Trade closed: target reached:
1st Target Profit reached. Will look for more opportunities next week.
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