GBP/JEN ANALYSIS

9 thg 12, 2019

Hi traders :) Here are some thoughts about GBP/JPY possible future price action. As we can see from the chart the pair has reached the down trendline which acted as a strong resistance in the past. The stochastic oscillator tells as this current uptrend is getting weaker ( look at the divergence) so it's very improbable the pair will manage to break it. However i suggest to wait until the Stochastic oscillator returns in the neutral zone before opening any short position. Look at the chart for possible entry, stop and target levels. Write me in the comments for any question, thought or critic. Good luck :)