GBPJPY SHORT (D) - Chart Analysis by Request @alanmasters

Feb 6, 2019

The British Pound is looking bearish against the Japanese Yen (GBPJPY).

Chart analysis and signals for GBPJPY (1 Day Time Frame):

• Direction, resistance and support levels marked on the chart.
  
• On the higher time frames, GBPJPY is in a downtrend.
  
• After a strong bounce, it didn't manage to break above EMA200 (orange line) and started to retrace easily breaking below EMA100 and EMA10.
  
• When price is trading below EMA10, that's leaning bearish (bearish potential).
  
• Volume is decreasing.
  
• MACD Histogram favors the bears.
  
• GBPJPY is to continue falling.
  

Note: If price breaks and closes above 143.30 (EMA100), these signals are invalidated and a new analysis is needed.

This is not a trade advice. This analysis was done by request to please one of our great followers.

Thanks a lot for the continued support.

Namaste.