FX:GBPJPY   British Pound / Japanese Yen
(Hourly Time Frame)
Head and shoulders spotted forming on the 1hr TF.
To decrease noise I removed some indicators, however they also indicated a sell occurring in the market short term;
- Ichimoku cloud indicates to sell
- BB's indicating to sell, however the bands were getting tighter together. (Market bouncing between middle and bottom bb).
The 50MA is currently pushing the market down.
T/P may be decreased, I predict it will go down to the support zone however invest at your own risk.

***The resistance zone stated isn't the highest resistance zone the market has offered, it is an average Resistance zone I have gauged within a time frame in the market.

Comments

@prthamdadhich01 Do you agree with the analysis?
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