PAIR IN FOCUS: GBPJPY
BIAS: BEARISH / SHORT
Price seems to be rejecting the resistance zone. Candle wick rejection off a resistance zone with a 50% fib. retracement, gives more confirmations for an entry.
Targeting the previous swing low for TP. SL placed just slightly above the rejection. Price could attempt to retest the resistance zone again before the next leg down.
BIAS: BEARISH / SHORT
Price seems to be rejecting the resistance zone. Candle wick rejection off a resistance zone with a 50% fib. retracement, gives more confirmations for an entry.
Targeting the previous swing low for TP. SL placed just slightly above the rejection. Price could attempt to retest the resistance zone again before the next leg down.