GBP/JPY: possible new downside movement.

14.04.2016 / 11:30

Rating:

GBP/JPY: downtrend and short-term correction.

Fibonacci correction to resistance levels 38.2%

Price action: Pierce of the inside bar and pin bar at resistance levels-negative signal

Lower daily bottom

Indicators:

RSI went below 50- signal for short

SSI is back at 0

For better positioning, sell when the price reaches 154.70

SL: 155.95

Alternative scenario: if the price goes above 155.95 it will break the negative formation.

Head_Of_Stock_Trading-S. Angelov

Varchev Traders

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GBP/JPY: possible new downside movement.

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