GBPJPY is in a short-term uptrend (purple), however the overall structure is looking like a bearish flag pattern. We expect price to retest previous lows if the trendline breaks.
In the short-term, we have a potential leg up back towards resistance with bounces from the 200MA (break of orange line).
Some good risk:reward trades at the significant levels on the chart.
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ELEMONT FX
Experienced Proprietary Traders
==============================
FACEBOOK: goo.gl/7ZfIuR
In the short-term, we have a potential leg up back towards resistance with bounces from the 200MA (break of orange line).
Some good risk:reward trades at the significant levels on the chart.
==============================
ELEMONT FX
Experienced Proprietary Traders
==============================
FACEBOOK: goo.gl/7ZfIuR
