GBPJPY
Time frame: D
Technical Analisys: The price breakout the upside trend started on 14.08.2018 which consolidated with upper resistance at ~149.50-90¥. Whe have breakout from 04.12.2018 and retest with retracement to FIbo 23.6% from the downside trend formed on 08.11.2018 . On 05.12.2018 the price has formed "hanging man" formation which confirms continuing bear scenario.
Indicators: The price is below 50-DMA and 200-DMA, which supports bear scenario.
DeM(14): Indicator is not in oversold zone which is positive for continuing sells.
Enter: Aggressive enter is at current prices at ~144.00, the more conservative traders can wait breakuot of the ascending triangle formed on lower time frame H4.
SL: 144.70
Agressive scenario:If the price moves above 145.00 zone , bear case scenario will be less valid and we can see continuing choppie market.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.