GBPJPY 4hr analysis

16 בנוב׳ 2022

As we can see, GJ is trading in a flag pattern in a down trend from the head and shoulders forming on the daily. We are however not able to break the resistance zone of 166. Which also correlates with the strong resistance of the 200ema, so we are still in a safe sell zone, the safest trade would be when price breaks below the flag pattern, retests is and confirms a sell entry, to make sure that the pattern has broken. Look for these entries on the smaller time frames.

16 בנוב׳ 2022

הערה

110pips caught on this sell, booked, waiting for retest and entry confirm for another sell..Entries caught on 15min candle on the double top formation

17 בנוב׳ 2022

הערה

Price could not break this flag pattern yesterday with news, so we could possibly see it happen with todays news release. Be patient and see what price does in this zone