Hi everyone:
GBPJPY has been one of my favor pair to trade as it has some big movement in the last few months. This week, we can definitely see some bearish momentum coming in to the market as the PA has now hit resistance area, and 4 hr chart has been decelerating, forming a potential bearish flag pattern. Look for a strong momentum coming in or possible pullback on 1 hr before entering this short position.
Thank you for your support and feedback.
GBPJPY has been one of my favor pair to trade as it has some big movement in the last few months. This week, we can definitely see some bearish momentum coming in to the market as the PA has now hit resistance area, and 4 hr chart has been decelerating, forming a potential bearish flag pattern. Look for a strong momentum coming in or possible pullback on 1 hr before entering this short position.
Thank you for your support and feedback.
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Here is the daily chart:
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