GBPJPY is offering a significantly interesting short opportunity, the telltale signs are there.
If we look closely, we see that price has bounced from the biggest mode in the downtrend since 1991, and could never go back over it.
In time at mode terms, we have a very clear weekly downtrend signal, confirmed by rgmov in the daily plotting a new 2 month low. This offers a very good short setup if we get a retracement entry.
Be sure to take it!
Entry would be anything above 191.91, with a stop loss slightly above the weekly mode at 193.468 (make it say 193.568)
Good luck!
Ivan.
If we look closely, we see that price has bounced from the biggest mode in the downtrend since 1991, and could never go back over it.
In time at mode terms, we have a very clear weekly downtrend signal, confirmed by rgmov in the daily plotting a new 2 month low. This offers a very good short setup if we get a retracement entry.
Be sure to take it!
Entry would be anything above 191.91, with a stop loss slightly above the weekly mode at 193.468 (make it say 193.568)
Good luck!
Ivan.
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