johnzoe

Touch 1st target @161.300, further north,or back south to short?

FX:GBPJPY   British Pound / Japanese Yen
67 2 3
Good bounce back from short this early open day, already touch 1st target @161.300
Waiting more confirmation either further north,or back south to short?.
Cheers mate.
Based on the double top just above 162, I would say down. There is also some upward resistance at the current price. Any break above the double top indicates bullish movement. RSI on the 4hour is close to crossing below 50. There is also divergence on the MACD pointing downward. We could also be forming a wedge though so I will wait and see. Good Luck!
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johnzoe bruzzese1
Indeed, RSI 60 just touch 50 and moving down. Thx bro.
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