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manuseijas82

GBP/JPY SHORT ANALYSIS (WEDGE, 38.2 FIB, RESISTANCE, DOUBLE TOP)

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
manuseijas82  
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY GBP jpy short wedgebreakout Fibonacci Retracement
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trendanalysis chartpattern indicator gbpjpy gbp jpy short wedgebreakout fibonacciretracement
Hello guys, here are 4 factors that make me think this pair could go down
- Price has been respecting descending trendline as a resistance
- Formation of an ascending wedge
- 38.2 % fib in sync with with trendline resistance
- Double top (M30) in game

- Possible short position down to base of the wedge, then price could struggle to break through these levels, but with the potential to reach 134.20 support level in the long term
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