GBPJPY Short Technical Opportunity
Technical analysis:
•50 EMA rejection
•200 EMA rejection
•61.8% retracement rejection
•Rejection of Key Horizontal Support/Resistance line @ 185.000
•Down-trending Market
•Deceleration present
•Tweezer Tops candle pattern
•GBP/USD and SPX500 are both showing bearish momentum
(weakness in the SPX500 often means strength in the Yen as a safe haven)
Negative Factors:
•Price action has made a higher high and a higher low recently, but this
can be seen as a pullback to create value.
Other Notable Factors:
•Note that the 50 EMA and 200 EMA are about to cross, which would
support a move lower
•50 EMA rejection
•200 EMA rejection
•61.8% retracement rejection
•Rejection of Key Horizontal Support/Resistance line @ 185.000
•Down-trending Market
•Deceleration present
•Tweezer Tops candle pattern
•GBP/USD and SPX500 are both showing bearish momentum
(weakness in the SPX500 often means strength in the Yen as a safe haven)
Negative Factors:
•Price action has made a higher high and a higher low recently, but this
can be seen as a pullback to create value.
Other Notable Factors:
•Note that the 50 EMA and 200 EMA are about to cross, which would
support a move lower
Aviso legal
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