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razainvestments
Mar 3, 2019 12:22 PM

Retracement on GBPJPY Short

British Pound/Japanese YenFXCM

Description

As you know there has been a clear bullish trend on GJ for the past week. Confirmation given that GJ has reached a new Daily Resistance at 149.000, 4H shows a bearish shooting star with a very high wick into the daily 149.000 Resistance confirmed with a close of the next 4H candle as bearish too breaking the inner 1H trend line. This has confirmed a retracement to the fib level of around 50% region of price 145.000-146.000.
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