Short GBPJPY
I will keep my bias on sells because on the following reasons:
1- Price is currently at Weekly Fib level 0.382, which is also a major resistance zone;
2- Double Top Pattern (4H);
3- 1 Engulfing bearish candle " (4H);
4- MA 18 and EMA 8 are crossing to the down side (4H);
5- MACD is losing strength and starting to give sell confirmation (4H).
6- On the Daily and 4H I see a Descending Bearish Continuation Triangle
NOTE: Price might react with NY opening.
1- Price is currently at Weekly Fib level 0.382, which is also a major resistance zone;
2- Double Top Pattern (4H);
3- 1 Engulfing bearish candle " (4H);
4- MA 18 and EMA 8 are crossing to the down side (4H);
5- MACD is losing strength and starting to give sell confirmation (4H).
6- On the Daily and 4H I see a Descending Bearish Continuation Triangle
NOTE: Price might react with NY opening.
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