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TkCha

GBPJPY Short

Short
British Pound / Japanese Yen (FX:GBPJPY)  
TkCha Updated   
FX:GBPJPY   British Pound / Japanese Yen
Chart Patterns Technical Indicators gbpjpyshort gbpjpyanalysis Double Top bearishdivergence
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chartpattern indicator gbpjpyshort gbpjpyanalysis doubletop bearishdivergence
This pair looks to be losing steam on this 4HR chart as well as on the 1HR chart.
You can even see that there are bearish divergences showing on our indicators along with the MACD looking to cross over.
Lets watch for this 4HR candle to close first before taking any action. If price does not close above our resistance line of 147.800, I believe a short here to 146.200 is ideal.
Comment:
Watch for a break of the 1HR trend line before entering a short
snapshot
Trade closed: target reached
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