GBPJPY Will Go Down From Resistance! Short!
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.
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Note
Great beginning for a trade, let’s hope it goes further!
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✅JOIN FREE TELEGRAM: t.me/signalsproviderfx
💰FREE & PREMIUM SIGNALS: t.me/signalsproviderfx
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
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