FullTimeTrader

GBPJPY-abc structure forming

FX:GBPJPY   British Pound / Japanese Yen
295 0 7
This pair is forming a series of abc (wxy) structures.
Right now it seems price is developing one more ABC structure, price is bouncing from the strong resistance 195.000
More reasons:

- round level 195.00 a resistance
- convergence - divergence setup
- ema 200 as resistance

Best regards

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

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