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FedericoSellitti

GBPJPY rejection or breakout?

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
FedericoSellitti Updated   
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY breakout support swingtrading daytrading Candlestick analysis downtrend
6
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trendanalysis chartpattern indicator gbpjpy breakout support swingtrading daytrading candlestickanalysis downtrend
GBPJPY is very close to an important short-term support. The setup of the moving average is bearish and sellers seem to be in control of the market, at the moment. I place a sell stop entry order right below the support, trying to catch a breakout with an acceleration of the price, going down.
Comment:
Took 1/7 of the position and moved the stop loss to entry level.
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