GBP/JPY Bearish SHS Suggests Further Losses

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The GBP/JPY is bearish and we can see a potential for further losses. However any Brexit headline could spike the price up so be careful.
145.50-70 is the zone where the pair should reject. The GBP/JPY, popular “Dragon” should also make a 1h or 4h close below an X-Cross at 145.18 for a further continuation down. Intraday target is D L5/ W L3/ ATR low confluence around 144.85 and only a strong daily close below it, could further tank the price towards 144.05. Watch for momentum and volatility and apply profit stops if you trade GBP pairs.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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