Price is going to break the cloud. It will be a signal for opening short trades below 138.50 with stop above the downtrend line. ADX line rises and confirms possible down movement. Profit target should be at 130.00 level.
HI, not sure if short because I have 2wave counts. Big picture is up. So question is : shall we have some counter trend at this point ? GBPJPY is not so weak for the moment so I will wait till the direction is clearer.
DLavrov
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@PHILOOS, thanks for your comment! If you are not sure, of course it's better to wait for clear signal. Different trading strategies give different signals. Why not? Based on my strategy, GBPJPY is more bearish and I have exact levels for entry if price moves in right direction. Weekly timeframe confirms bearish market also. Price is below the cloud and it is going to bounce from the cloud. If you use technical tools, you will draw downtrend line also. That's why I think this pair is more bearish. But I don't give 100% true signals )