GBP/JPY on it's way to 179 level. More decline ahead
Hello traders, ever since GBP/JPY was at 185, I had recommended
selling with a target of 179( previous GBP/JPY ideas attached below).
📌Currently, the price action is quite bearish even in the hourly chart.
📌GBP/JPY is unable to go above the 100-hour moving average which is
a bearish signal. In fact, every time the price pulls back to the 100H EMA,
we see further drops.
📌Based on the above factors, GBP/JPY is all set to fall to the 179 level
in the coming days. My recommendation is to sell the rallies in GBP/JPY.
selling with a target of 179( previous GBP/JPY ideas attached below).
📌Currently, the price action is quite bearish even in the hourly chart.
📌GBP/JPY is unable to go above the 100-hour moving average which is
a bearish signal. In fact, every time the price pulls back to the 100H EMA,
we see further drops.
📌Based on the above factors, GBP/JPY is all set to fall to the 179 level
in the coming days. My recommendation is to sell the rallies in GBP/JPY.
before going short.