FX:GBPJPY   British Pound / Japanese Yen
98 0 8
I had previously analyzed this pair which had formed a bullish Shark pattern and it behaved as expected, hitting my Take Profit level:



The same Shark transformed into a bearish 5-0 pattern, which on the first encounter caused a deep and sudden decline. The area I have shown on the chart is a formidable resistance and if the bulls fail to break it until 19th of October, I think lower levels are awaiting this pair. The trigger for selling should be the break down of the ascending channel .

On the other hand, break up of the resistance area should pave the way for reaching the upper boundary of the channel.

Good luck,

Ali             Sharif Azadeh, CFTe
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out