Forex_League

GBPJPY Analysis Dec 20, 2020

Short
FX:GBPJPY   British Pound / Japanese Yen
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.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.