GBPJPY SELL SETUP

Hi everyone:

A good sell setup is forming on the GBPJPY.

WE can see the 4 hr chart has hit the resistance of 150.00, a bearish flag has formed to push the price action down.

Now, the price is consolidating above the trendline, another bearish flag forming and enter short would be a nice risk:reward trade down to recent lows.

On the higher time frame, daily chart has pulled back to form a lower high, and reject the daily 50 EMA. We can see more bearish momentum to the down side.

Thank you

評論:

Daily time frame