GBPJPY has boomed last week reaching a strong resistance caused by the weakness of the JPY currency. Now price is around it, and a critical candlesticks pattern is being formed, giving a signal that the uptrend might end soon. That's why we are presenting on the chart 2 possible Sell scenarios:
1- Purple (M30 Analysis): Price might retest the lower part of the channel before breaking it and thus it will be a sell opportunity.
2- Dark Blue (H1 Analysis): Following key rejections, price might have ended its uptrend and then a sell can also be entered.
Trade Safe and best of luck
~Cyril
1- Purple (M30 Analysis): Price might retest the lower part of the channel before breaking it and thus it will be a sell opportunity.
2- Dark Blue (H1 Analysis): Following key rejections, price might have ended its uptrend and then a sell can also be entered.
Trade Safe and best of luck
~Cyril