GBP/JPY: Our Expectations: Possible decline in the pair, pin bar on resistance levels. The price went inside the Ichimoku cloud for the first time since 17.04.2017, SL: 147.20
Alternative Scenario: If the price goes above 147.20, it will deny this signal for short and there will be new opportunities for long positions.
Commentary: The trend is short, as the pair reached a resistance at 148.15
Price Action for short: three bars in negative formation on Daily chart.
On 4 hours chart there is a resistance.
The price went inside the Ichimoku cloud - when the red line is below the blue - negative signal.
Lower high than the previous.
Stefan D. Angelov - Head of Stocks Trading
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