GBP/JPY - Sell orders remain the best trade

GBP/JPY Our expectations:

Daily - The price speculated the long-term trend formed in the Flash Crash-a period until three weeks ago, and the price is currently testing the long-term diagonal, now a resistance. In addition, 50 and 200 periodicals expressing the movement of the couple are placed in a sword, indicating that the new trend is descending. The price reaches a zone of strong resistance formed by the pierced long-term diagonal and a basic horizontal resistance formed by the previous bottoms. The price is close to the upper diagonal of the short-term downward trend. 50 and 200SMA are bearish - negative for the price. Test and fake breakthrough of 38.2% Fibonacci correction of the new downward trend - negative for the price. Price Action - Bear Pin Bar in the Resistance Zone. DeMarker goes out of the over-purchase zone and points down - negative for the price.

SL: 149.03 on order to avoid Stop Hunting and a false breakthrough in the upward direction.

Alternative scenario: If the price goes back to a long-term upward channel and stays there in several consecutive bars, the negative scenario will ruin and we're more likely to see a price increase.

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