GBP/JPY: Short positions after correction

GBP / JPY: 4 hour chart – a new downtrend

Price below 50 and 200 MA – negative signal

Price action: 3 black crows, as the third closes below 200МА – likely drop


50/200 MA: the price closes below the 200 MA – probably fall

DeM and CCI (50) are in the area of super sales – likely to follow correction

Sl: 134.550

Alternative scenario: If the price crosses above the horizontal resistance is possible to see a new bullish momentum to the next resistance levels.


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