This is a sample idea for the GBPJPY taking in consideration the monthly view.
The pair at the moment is testing a major resistance level, noticing as well the wick that is forming on the monthly candle which will be rejecting the descending trendline. We can look for short position on the 4H chart. We will wait a retracement to the 61.8 Fib.
The pair at the moment is testing a major resistance level, noticing as well the wick that is forming on the monthly candle which will be rejecting the descending trendline. We can look for short position on the 4H chart. We will wait a retracement to the 61.8 Fib.