British Pound / Japanese Yen
Short
Updated

GBPJPY Will Go Down From Resistance! Short!

snapshot
Please, check our technical outlook for GBPJPY.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 183.724.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 181.302 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

Like and subscribe and comment my ideas if you enjoy them!
Note
Great beginning for a trade, let’s hope it goes further!

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.