GBP/JPY (The main trend is still DOWN)

View On GBP/JPY (3 Sept 2019)


The Momentum is of this pair is still pointing toward downtrend.
SO, if you are thinking of going LONG, it is definitely a counter-trend trade. You will need a good price action of your intended direction too.
Since the Daily candle is very bearish. I do not see any reason go enter LONG at this moment.

It can swing to the previous support region of 127.2 first. I will update again if there is any new development.



DYODD, Our trade analysis may not suitable to intraday (or) short time frame trading.

Whatever method you use if you do not follow the proper rule of risk management, it will have detrimental effects on your account.
Feel Free to "Follow", press "LIKE" <or> "Comment".



Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.

DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.