GBP/JPY: Sign of falling

20.04.2017 / 10:40

Rating:

GBP/JPY: Daily Chart - Down trend

Price below diagonal resistance

Price action: pin bar on resistance and false breakthroug of 50MA - negative signal

Indicators:

50/200MA: price below 50MA

CCI (50): the moving average has reached level 0, a new pass below this level will confirm the short

SL: 140,560

Sentiment: rising uncertainty in the markets should have a positive impact on the JPY

Alternative Scenarios: If the price goes above the shade of the pin bar, this can break the negative signal and see a new upward momentum.

Trader I. Ivanov

Varchev Traders

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GBP/JPY: Sign of falling

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