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Not Buying this Bounce SHORT GBPJPY
Price
The GBP/JPY pair was trending downwards before an announcement came out that US was halting tariffs. The pair has since reversed higher, and I think it's a good opportunity to get short. I'm not bearish on the GBP, but the market clearly is, so I'm going to look for opportunities like this to short. I'm not sure about this target, I'll probably be using this as a ballpark and watch to see how the patterns unfold to find a good exit.
RSI & MACD
RSI can't clear that 50 area and has a weak bearish divergence going on. The MACD is barely above 0 and looks like it wants to head back south.
The GBP/JPY pair was trending downwards before an announcement came out that US was halting tariffs. The pair has since reversed higher, and I think it's a good opportunity to get short. I'm not bearish on the GBP, but the market clearly is, so I'm going to look for opportunities like this to short. I'm not sure about this target, I'll probably be using this as a ballpark and watch to see how the patterns unfold to find a good exit.
RSI & MACD
RSI can't clear that 50 area and has a weak bearish divergence going on. The MACD is barely above 0 and looks like it wants to head back south.
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