GBPJPY short, close to EMA 200, 4h chart

GBPJPY is trading close to 61.8% fibonacci on a 4h chart, which has previously been respected multiple times. EMA 200, which also has been respected as a resistance, is close to the fibonacci 61.8, and RSI is close to being overbought. All this, accompanied by the fact that the candle is a shooting star makes me go short on this pair. It could however be wise to wait for the next candle to confirm the shooting star, if you wish to be safe.

Entry: 161.35
SL 162
TP 158.8

Risk/reward: 3.92

Trade stängt: Stopp nått:

Hit SL. Total loss of 0.3%