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TheForexTraderoom

GBPJPY Short Idea

Short
British Pound / Japanese Yen (FX:GBPJPY)  
TheForexTraderoom  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Wave Analysis Fundamental Analysis
5
0
trendanalysis waveanalysis fundamental

Price was overextended at the 1.18/1.27 zone after a shallow retracement.

Price reached the 4hr support zone after an impulsive push down after the fundamental announcements.


Price has retraced to the demand zone and is retesting the 1.18 extension level.


Looking for price to continue it's down trend to the daily 38.2 retracement level.
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