I Am a bear on the GBP/JPY because of my technical analysis.
I am a bear on this pair because price has opened off the Monthly pivot point made lower lows and lower highs and also falling below the dynamic resistance in the form of the 21 EMA.
Bearishness of this trend can still be observed by the 21 EMA being below the 55 EMA, and price making lower lows and lower highs.Resistance can be identified by the indicated area which coincides with the fib zone as well as the WS1 pivot so i will be looking for price to reverse in the fib zone and continue on the bearish move.
I will be waiting for the stochastics to be overbought then cross on the down before making my entry
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<p>Learning to trade forex, very simple, easy going individual really. Respect is Key in everything. “everyone once knew nothing.” </p>