FXHighway
Short

GBPJPY: negative formation completed

FX:GBPJPY   British Pound/Japanese Yen
374 7 8
Target: 176.25
Risk: 184.55

Technical Reasons:

The pair completed drawing a double top pattern by breaking 181.40 level, the full target of this pattern almost meets the major ascending channel’s support line, waiting for temporary decline in the upcoming period.

Negative pressure from the exponential moving average 50 and the rise of the bears’ power indicator are factors that support the expected decline.


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Wht a great call
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FXHighway Technician
Thanks mate,
Few steps to the full target..
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Nice one!
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FXHighway compdude
Thank you
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Full target is done
Having today's close below 176.27 will extend the bearish wave towards 173.10,, even thought , 61.8% Fibonacci barrier is not easy to break ,,

Thus ,, the next signal will come out after breaking below 176.27 or breaching above 177.45 ..
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Some good profits here, i will be waiting for your next trade setup.
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FXHighway Technician
Thank you ,,
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