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GBP/JPY: Levels of resistance possible downgrade

GBP / JPY: Daily schedule – downtrend

Price of diagonal and horizontal resistance

Fibonacci – correction to 23.6

Price Action: Internal bar – spining top – possible downgrade

indicators:

50/200 MA: 50 under 200 – a downward trend

DEM and CCI (50) rotated from over-bought market – a negative signal

SL: 140,237

Alternative scenario: If the price crosses above the 23.6 fibo, we can see a new bullish momentum to resistance levels.

Jr_Trader_I_Ivanov


 Varchev Traders


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