GBP/JPY GOING WITH THE FLOW OF THE MARKET
The GBP.JPY is trading below the kumo, is using the kijun sen as resistance, is trading in a descending channel structure with an RSI reading of sub 50. We're looking to trade with this clear market direction, and our desirable entry will be the breakdown of the corrective ascending line. The RSI 50 line should also stem the bulls if this scenario does unfold.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.