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Rayyan_2805
Mar 31, 2019 7:53 PM

Pullback Has Been Completed after Break of the Trend Line Short

British Pound/Japanese YenFXCM

Description

Possible short position for GBPJPY. Price has completed a pullback to the trend line after it had already broken out of out towards the downside. We can now expect further decline in the price as it Is currently moving below all three moving average indicators on the chart which are the 20 EMA, 50 EMA and the 200 EMA. This indicates a strong short bias for us. Will also cross check this analysis with the upcoming news for next week but I am feeling confident with this one.

Comment

Update stop loss to 145.450

Comment

False break out, small stop loss hit
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