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.

2015-09-15_13-33-10-GJ1

 

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

2015-09-15_13-35-26-GJ2

 

OK, the direction is SELL.

Where from?

2015-09-15_13-40-18-GJ3

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

 

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.