GBPJPY has formed a bearish bat pattern during last days,now the price is located inside a Potenzial Reversal Zone between two resistances (the blue horizontal lines) and the Stochastic has produced a bearish divergence.
A sell could be the best option in this kind of situation, there are good chances for a drop towards 138.5 near the 100 day moving average. Pay attention to the larger timeframe in order to place your stop loss above 144.65, weekly resistance , I will post the weekly chart later.
Use a risk reward at least equals at 3.00 and do not risk more than 2% of your capital.
Enjoy your trading !!
A sell could be the best option in this kind of situation, there are good chances for a drop towards 138.5 near the 100 day moving average. Pay attention to the larger timeframe in order to place your stop loss above 144.65, weekly resistance , I will post the weekly chart later.
Use a risk reward at least equals at 3.00 and do not risk more than 2% of your capital.
Enjoy your trading !!
