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SharifAzadeh
Oct 26, 2015 11:46 AM

GBPJPY; Upward Correction Ending Soon Short

British Pound/Japanese YenFXCM

Description

Time is ripe for this upward correction to end as we have a bearish AB=CD pattern formed. A breakdown of the 184.49 support can be taken as the short trigger. In that case, the target should be the major swing low at 180.69 and the stop loss level should be whatever high the bulls make prior to the breakdown.

Good luck,

Ali Sharif Azadeh, CFTe

Comment

This pair is still struggling in its channel. I will provide a new analysis. Stay tuned.
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