GBP/JPY
Date: June 1, 2016
H4 Graph: Long Trend
The price made a correction to the bottom of the bullish channel and Fib 38,2% and horizontal support at 160.00 and holds above them.
Alternate scenario: If the price move lower below Fib 38,2% and the horizontal support at 159,650 will cancel the bullish view.
Technical Indicators:
DEM (14) H4 - In the middle
RSI (14) H4 - below 50
Price for Entry long around: 160.300
SL: 159.650
Jr. Trader - S. Fuchedzhiev
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