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.
SELL ZONE 1: From 185.55
SELL ZONE2: from 184.50
Hope this helps you develop your own trade plan.
YJ Baik – Forex.Today @ Tokyo