GBPJPY: A Swing Sell Setup

2022년 5월 16일

Last week, price has broken the neckline of its head and shoulder pattern on the daily chart. As we forecasted in our previous GBPJPY analysis, after a sharp breakout, price retraced and now aims to retest the neckline of the head and shoulder pattern, which is the 159.50 ~ 160.00 level. From there, we will prepare our swing sell entries, with a first target set at 153.00 level. SL can be set above the third shoulder of the head and shoulder pattern, which is the 164.00 level.