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YourLazyTrader

GBP/JPY rally stops at the resistance level, More decline?

British Pound / Japanese Yen (FX:GBPJPY)  
YourLazyTrader Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis GBPJPY gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpydaily
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trendanalysis chartpattern beyondta gbpjpy gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpydaily
Dear traders, in a quite expected move, GBP/JPY rallied almost 200 pips
from 172.65 and reached the resistance level as indicated in my chart.

Currently, we are seeing the formation of multiple bearish candlesticks in
the 4H chart. So, this gives us a moderate bearish bias.

If this bearish price action persists, traders can consider selling GBPJPY@
174.40-.174.70 with SL above resistance and TP at 172.60.



Trade active:
Sold at 174.38
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