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ASCENS10N

GBPJPY:Unsustainable parabolic trend

Short
British Pound / Japanese Yen (FX:GBPJPY)  
ASCENS10N  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis
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trendanalysis
This pair has hit an institutional supply zone after a extended bullish run which took out many retail short positions.

Right now, we are seeing some form of rejection candle show up.

I expect price to retrace towards the 147 level first before any further bullish attempt.

GBPJPY Short:
Entry is valid as long as price is below 152.35
SL:153.00
TP: 147.10
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