GBPJPY - 240 - A good start for the bears.
Quick idea.
The first step for the bears is done - the pair has broken the upside line. But what is really required, in order to get comfortable with further declines, is a drop below the highlighted support area. This way, GBPJPY would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
The first step for the bears is done - the pair has broken the upside line. But what is really required, in order to get comfortable with further declines, is a drop below the highlighted support area. This way, GBPJPY would confirm a forthcoming lower low and more sellers could join in.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
Trader’s Espresso – 07:00 GMT
Trader’s Tea Time – 14:15 GMT