Price will move towards my 23.6 Orange Fib level @114.311.
From there we will see price action towards Large Quarter Point 145. There is also confluence at that point with two fib levels, 78.6 and 50, that can serve as the top and bottom of the target price zone.
Profit Size: 68.6 Pips
Based on trendline analysis, GBPJPY already touched the upper trendline and EMA200 in Daily Chart time frame.
Candle stick forming double top and Stochastic oscillator (21,3,3) forming lower high strongly indicate GBPJPY will forming Divergence Sell
Trader can go Short and target TP1 141.275, TP2 135.897
Chart time frame - H4
Timeframe - 1-2 days
Actions on -
A – Activating Event
Market will meet resistance in zone @144.66 - .... and fall to the @141.200. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 141.400...