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AEFX786

GBPJPY Short (Sell) Trade Setup

Short
British Pound / Japanese Yen (FX:GBPJPY)  
AEFX786 Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Support and Resistance Supply and Demand GBPJPY gbpjpyshort gbpjpysell gbpjpysignal gbpjpyanalysis gbpjpytrade gbpjpyidea
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trendanalysis supportandresistance supplyanddemand gbpjpy gbpjpyshort gbpjpysell gbpjpysignal gbpjpyanalysis gbpjpytrade gbpjpyidea
This is a short term setup as we've got divergence on the RSI and rejection of a key level. We may drop to the green zones for a potential long entry.
Comment:
The drop on this pair so far does not confirm it's bearish sentiment. In fact, if we look at it from the opposing side, it's just completed a 0.382 retracement and could be gearing up for the next leg to the upside.

For now, I will continue to hold this short and see how price action develops.
snapshot
Trade closed: stop reached
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