GBPJPY in Sell on D1 at level of 147.650

12 ביוני 2018

Price retraced up on daily chart to the level of 147.700 which is a level of resistance of which also are in conjuction with respecting trendindline aswell as fibonacci retracement and played between the 50 and 38.2 fibonacci retracement to give a clear indication that a solid downtrend will then continue after retracement completes at 147.700. EMA's also then confirm price has respected dynamic resistance between 30 EMA and 50 EMA.(Dynamic Resistance)Clear entry based on bias of sell would be at price 147.650 with the following Take profits at each level of Support as it retraces further to the downside apply correct risk management.
T.P 1 : 145.100
T.P 2 : 141.200
Final T.P 3 : 139.450