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edramlan

GBPJPY going lower?

Short
British Pound / Japanese Yen (FX:GBPJPY)  
edramlan Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns GBPJPY gbpjpyshort
3
2
trendanalysis chartpattern gbpjpy gbpjpyshort
Why it is going lower?
  • The pair confined within the ascending triangle.
  • Ascending triangle can breakout either higher or lower and for this pair it is expected to break lower.
  • Yesterday’s price action shown that price penetrated the support of the triangle with key reversal.
  • A combination of Friday’s inside day bar and yesterday’s key reversal give a bearish picture.
  • Already short the pair at 144.87.

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Trade closed: target reached:
First target reached. Stand aside for now.
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