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YourLazyTrader

Sell GBP/JPY from the resistance level + double top?

Short
British Pound / Japanese Yen (FX:GBPJPY)  
YourLazyTrader  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Beyond Technical Analysis GBPJPY gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast
18
5
trendanalysis chartpattern beyondta gbpjpy gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast
GBP/JPY has pulled back from the resistance level. Along with this, we also have the formation
of a bearish candlestick in the resistance level thus leading to a potential double top.

So, in the next 3-4 days, we can expect a further decline in GBP/JPY towards 168 and 165.50
levels as long as the resistance level stays unbreached.

My recommendation is to sell the rallies in GBP/JPY with SL above 172.40 and TP at 168.
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