GBP / JPY
Downward movement and correction to levels of horizontal resistance.
Break of the Flag for short.
Price below 50SMA - Negative signal
50SMA under 200SMA - Bearish Formation
DeM (14) - turns from overpriced markets.
SL 141.32
Alternative scenario: If the price returns in the flag and we see a break above it, we are likely to see upward movement.
Junior Trader Stefan Panteleev
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