On the GBPJPY chart, we can see that the instrument is retesting the broken long-term uptrend line 149 level close to 200 SMA (black line) 149.490 level. A strong rejection from here could lead to a test of 146.740 level, a confluence of the upside support.
Note: look for the short trade entries with the stop loss above the 149 level.
Top-down trading technical analysis revealed.
Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free. We are publishing 5-10 trade alerts per week via real-time Private twitter feed!
