FXHighway

GBPJPY: negative formation completed

Short
FX:GBPJPY   British Pound / Japanese Yen
378 views
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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Comments

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 ..
Reply
Technician FXHighway
Some good profits here, i will be waiting for your next trade setup.
Reply
FXHighway Technician
Thank you ,,
Reply
Nice one!
Reply
FXHighway compdude
Thank you
Reply
Wht a great call
Reply
FXHighway Technician
Thanks mate,
Few steps to the full target..
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