GBP/JPY : signals for possible down movement

GBP/JPY: Downtrend, middle-term long, which is correction of the main trend

Correction to levels of horizontal resistance at 147.85 and near FiBo level 38.2

Price action signal: Pin bar at levels of resistance – negative signal

CCI(50) – goes below 100 – possible decrease

DeM goes below 0.7 , after divergence price-indicator – also signal for possible negative movement

We just have too wait 20 pips for better positioning around 145.25

Alternative scenario: If the price goes over the top of the pin bar the negative scenario will be dismissed .

Head_Of_Stocks_Trading Stefan D. Angelov

 Varchev Traders

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