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ThinkingAntsOk
Oct 16, 2020 1:31 PM

GBP/JPY to the Downside? Broken Bearish Structure  Short

British Pound/Japanese YenFXCM

Description

🔸4H CHART EXPLANATION:
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🔸Price bounced at the Daily Resistance Zone.
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🔸It has broken the Ascending Channel.
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🔸After that, we can observe that has been consolidating on a corrective structure that has been recently broken to the downside.
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🔸 The first bearish target of this move is the Support Zone at 132.00. Will look for a lower timeframe bearish setup.

🔸DAILY CHART ANALYSIS:

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