OK, Maryna, you were right.  Let’s dump the Beast!!  😉

 

This pair is already dropped from Daily & Weekly Cloud.   No reason to be Bull for a while.

2015-12-23_19-13-23-GJ7

Let’s sell this pair.

The current level seems to be very interesting.  Stochastic is already in the down cycle, and the price seems to be blocked by DPP.

2015-12-23_19-05-57-GJ1

 

On M15 chart, I see Bearish Divergence on Stochastic.  Thus it may make sense to short from Fib50% or 61.8%.

2015-12-23_19-10-34-GJ2

 

We should simply check either M5 or M1 chart for reversal pattern.

 

The target?   176.00 ish?  (Prev low on Weekly chart)

Again Maryna, your target makes sense!!  Good call.

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

 

 

 

2 thoughts on “GBPJPY Trade Setup (Dec 23)”

  1. adamp says:

    Great analysis as always YJ, I think this pair has significant downside potential too. Merry Christmas

    1. YJ Baik - Forex.Today says:

      Merry Christmas, Adamp !

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