GBPJPY
Time Frame: H4
Technical Analysis: The price has reached a diagonal line of downward trend, formed on 25.01.2019, and a 50% Fibo (143.00 ¥) adjustment of the same movement. A series of "trend reversing candle", contained in JPY, is around the resistance zone.
Indicators: The cost is over 50 SMA and 200 SMA, which is not support bear scenarios.
DeM (14): The indicator is in a "overbought" zone but still does not cross the value of 0.7 which is considered a confirmation of the return zone.
Entry: Aggressive deal could be from current values ~ 142.90, and the more conservative traders can wait unemployment and payee data from UK at 11:30 for better positioning in the market.
SL: 143.50
Alternative Scenarios: If the price is closed above 143.50-80 we will probably see an impulse of the downward movement and will look for positioning signals in the direction of the new trend.
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