GBP/JPY:
Date: 27 December, 2016
H4 Graph: Medium term long trend
The price made a correction down to strong horizontal support and Fibo 23.6%. Price continue to trade above the 200 EMA. There is the possibility that this might be the end of the correction and to see new long move.
DEM (14) - In the overbought zone
Alternative Scenario: If the price move below and passes down the previous low and the Fib 23.6% and below the horizontal zone 143,325-142.900 this will cancel the bullish view.
Price for Entry long around: 143.800
SL: 142.900
Jr. Trader - S. Fuchedzhiev
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