FX:GBPJPY   British Pound / Japanese Yen
GBPJPY was in an uptrend and recently had a significant drop. Marked on the chart we can see how GBPJPY failed to make a higher high and failed to break resistance. After the breakout, from the uptrend, it retested the diagonal support level . We can also view how GBPJPY broke out on the RSI indicator, demonstrating how it was oversold. With GBPJPY we can see how it would react to making a correction upwards after this drop and then probably keep heading down. But If price does break the marked support level then we can confirm getting in a short position for the downtrend.


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