GBP/JPY: Our Expectations: It is highly likely that the move lower will remain intact, after the test of resistance and break below 141.467, with SL: 142.65
Alternative scenario: If the price move above the diagonal resistance or above the SL at 142.46, may mean new upmove, and we might have to change our expectations for long instead.
Comment: Short medium term move, lower highs and lower lows.
Price remains below 20 ЕМА, at time when the Тenken-sen (red line) is below 20 ЕМА - the sentiment remains highly negative.
CCI(50) is below 0 - short move lower.
There are two ways to enter: 1st from current levels - aggressive entry with bigger SL: 142.65 or after a correction if there is such correction entry at level of 141.83, with SL: 142.65
Stefan D. Angelov - Head of Stocks Trading
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