Get started
vanris

GBP Short Idea - Long term uptrend trendline broken

Short
British Pound / Japanese Yen (FX:GBPJPY)  
vanris  
FX:GBPJPY   British Pound / Japanese Yen
Trend Lines
5
0
trendline
We are looking at a short idea for GBPJPY due to the following:
a) Long term trend line broken with two rejection bars.
b) GBPJPY not able to break through the resistance of 147.385
c) Price action on the last up swing looks weak with a bearish engulfing bear form on 3 August 2017, followed by pinbars on 15 August.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.