JanKoristka

GBPJPY Long and then Short Opportunity

Long
FX:GBPJPY   British Pound / Japanese Yen
Again, high timeframes are telling us where they need a retracement. We have rejected trendline and broken resistance level. Now we are definitely in a good position to go long. I expect price to hit the next resistance level which fits with a 0.618 fibonacci level and then we should expect a bearish pressure. Why ? Because we are in a downtrend on a weekly and monthly timeframe. This is "just a pullback".

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