MACD Divergence on Daily, GBP/JPY
Short opportunity on GBP/JPY. Divergence between price and MACD. Price made a new high recently on 05/21/15, but MACD did not - This is Bearish. A Bearish Engulfing candlestick formed on 05/22/15 (probably because of the MACD Divergence). Nice ABCD Sell pattern. Not exact but we don't get exact too often in trading. : )
Other Yen crosses are showing some weakness. The GBP/USD is showing some weakness. If price closes above 190.00 on a Daily chart, I will consider a Long position. Remember: The Yen loves misery! The Global Equity markets are due for a retracement. See what the US Market did today.
Other Yen crosses are showing some weakness. The GBP/USD is showing some weakness. If price closes above 190.00 on a Daily chart, I will consider a Long position. Remember: The Yen loves misery! The Global Equity markets are due for a retracement. See what the US Market did today.
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