GBPJPY Sell - Finished its retracement, lower high is formed

Short

British Pound / Japanese Yen (FX:GBPJPY)

Updated

FX:GBPJPY British Pound / Japanese Yen

Trend Analysis Chart Patterns Wave Analysis GBPJPY

trendanalysis chartpattern waveanalysis gbpjpy

GBPJPY has completed its retracement at the FIB 0.618 zone and formed a lower high within a downtrend channel. Based on this, we anticipate that the price will decline towards the 161.100 area, which was previously rejected by a candle.

Trade closed: stop reached:

Wait for another setup.

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