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CDean97
Oct 15, 2018 3:10 PM

GBP/JPY Short  Short

British Pound/Japanese YenFXCM

Description

After being in a range zone for nearly a month I feel this pair is ready to take a bearish direction.
-Range has broken to the downside and been retested
-Moving average and fibonacci level align with the retest of the range zone. (4H)
-Price action closed below the moving average at 2pm closure. (1H)

Stoploss - Above weekly resistance @ 147.500
Targets -0.27 Fib + Monthly Resistance @ 145.000

This is my analysis and only to be used as a confluence to you own analysis and not a signal!!!
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