GBP/JPY(sell, short)
Hello everyone,
After we saw at monday a news about new results of vaccine for COVID-19, momentum was against safe haven investments in forex such as(JPY,USD). We saw also a big decrease of infected at UK and we can say that whole lockdown starting to give us some result. But the main problem is next, you don´t have a open economy so we can see only working shop for what is neccesary for live and for my opinion it is not enough to give GBP a strong momentum. From the other side JPY have open economy, what is fascinate me is that fact, you have a 120 milion of people in Japan but average infected is about 1000 a day. So we can say Japanies people are disciplined nation so they can have a open economy which tell us that Jpy is worth of investing. From tehnical point of view we can see that bullish momentum have problem with breaking of our resistance and it started to make a Lower-Low and Lower High, second we have a big double top as we watching a bigger picture and we a small double top. Ema of 21 is above at the current price so who likes a trading with crossover that is perfect signal. We have a triangle pattern and that is our pattern to wait, when we see a break of triangle that will be our entry price. TP will be at our first support level and SL will be at above resistance line.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
After we saw at monday a news about new results of vaccine for COVID-19, momentum was against safe haven investments in forex such as(JPY,USD). We saw also a big decrease of infected at UK and we can say that whole lockdown starting to give us some result. But the main problem is next, you don´t have a open economy so we can see only working shop for what is neccesary for live and for my opinion it is not enough to give GBP a strong momentum. From the other side JPY have open economy, what is fascinate me is that fact, you have a 120 milion of people in Japan but average infected is about 1000 a day. So we can say Japanies people are disciplined nation so they can have a open economy which tell us that Jpy is worth of investing. From tehnical point of view we can see that bullish momentum have problem with breaking of our resistance and it started to make a Lower-Low and Lower High, second we have a big double top as we watching a bigger picture and we a small double top. Ema of 21 is above at the current price so who likes a trading with crossover that is perfect signal. We have a triangle pattern and that is our pattern to wait, when we see a break of triangle that will be our entry price. TP will be at our first support level and SL will be at above resistance line.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
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