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Brian_Philips
Jul 2, 2021 6:46 AM

GBPJPY in Bears control! Short

British Pound/Japanese YenFXCM

Description

Based on the chart, price reached a resistance area and yesterday a rejection form this area happened. Also the chart behavior can show us a weakness on buyers because we can not see a recent high on the chart(there is no higher and higher right now!)
So the weakness on buyers and the strength of sellers at this area lead me to open a sell position with a good risk reward ratio (about 1:4 for first target and 1:8 if it goes to the next target).
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
Comments
BloomFX_SIGNALS
Looks good 👍🏻
Brian_Philips
@BloomFX_SIGNALS, Thank you
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