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GBPJPY Analysis Dec 20, 2020

Short
FX:GBPJPY   British Pound / Japanese Yen
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1
On the weekly timeframe we still are overall very bearish . Down to the daily we are testing a serious level of resistance. Price has yet to close above the 140.000 level. I will use the H4 timeframe to look at market structure. On this timeframe we are retesting the 100% level on our fibonacci. We are shaping up for a nice short opportunity as the moving averages have already crossed. We will look on the M30 timeframe in order to take short entries.

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