GBP/JPY Our expectations: Middle-term upward movement, correction to diagonal support. possibility for long position with SL at 143.58.
Alternative scenario: IF the price breaks below the supports and 200 SMA, the sentiment will shift for short. In this case we must wait for a test of the break of SMA 200 and look for a price action signal for short positions.
Comments: Upward trend, correction to horizontal and diagonal supports. The price stopped at 200 SMA and FiBo 38.2% FiBO. Price action signal: engulfing candle and correction of 30% of the engulfing. DeM(14) - shifting from oversold - bullish signal. TD Sequential counts 13 and gives us signal for long.
Jr Trader Alexander Kumanov
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