GBPJPY TF TRADE

Pair: GBPJPY
Trade Opportunity: Sell
Type: Scalping


The daily market trend is bearish because the market has broken below a support level from November 4 and another support level from October 31. After the breakout, both of these supports are now acting as resistances. Currently, the market is retesting the October 31 resistance level.

On the 15-minute chart, a double-top trading pattern has formed, and its neckline has been broken to the downside. The market is now retesting the neckline of the pattern, where trades are being initiated.


Entry 195.334
Sl 196.10
Tp 194.406