GBPJPY: Rising Wedge for bearish
The price has been at this level for a while. Now, it formed a rising wedge. This wedge is about to complete recently, as we can see, the price already broke out from the upper band of the Bollinger Bands. This could mean that the price met pressure here.
Since the resistant point already existed, we should look for other clues.
The volume does not show too many clues here, however, the MACD is about to cross in the near future. If the lines cross, the cross would be a death cross, which means the price would go down soon.
Let’s expect the price to go down
Since the resistant point already existed, we should look for other clues.
The volume does not show too many clues here, however, the MACD is about to cross in the near future. If the lines cross, the cross would be a death cross, which means the price would go down soon.
Let’s expect the price to go down
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