GBPJPY pair has nicely shown the down moves.

Looking at H4 chart (below), I still believe Bearish Divergence on Stochastic is on the effect.  Also the price seems to be forming a nice reversal down, from Fibonacci 38.2-50% level.



The Hourly chart below shows a nice movement of the reversal.  This is really, “Old man easing on a hot bath…”.



OK, the direction is SELL.

Where from?


SELL ZONE 1: From 185.55
Fib50%, DPP

SELL ZONE2: from 184.50
Breakout Strategy


Hope this helps you develop your own trade plan.


YJ Baik – Forex.Today @ Tokyo



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