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Rayyan_2805

Pullback Has Been Completed after Break of the Trend Line

Short
British Pound / Japanese Yen (FX:GBPJPY)  
Rayyan_2805 Updated   
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Harmonic Patterns Technical Indicators GBPJPY gbpjpyshort gbpjpyanalysis forexsignals Forex accurate
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trendanalysis harmonicpatterns indicator gbpjpy gbpjpyshort gbpjpyanalysis forexsignals forex accurate
Possible short position for GBPJPY. Price has completed a pullback to the trend line after it had already broken out of out towards the downside. We can now expect further decline in the price as it Is currently moving below all three moving average indicators on the chart which are the 20 EMA, 50 EMA and the 200 EMA. This indicates a strong short bias for us. Will also cross check this analysis with the upcoming news for next week but I am feeling confident with this one.
Comment:
Update stop loss to 145.450
Comment:
False break out, small stop loss hit
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