GBPJPY bearish continuation in play

GBPJPY bearish continuation in play

Key Resistance: 153.15
Key Support: 151.40

The GBPJPY had a very bearish day yesterday moving -172 pips from high to low breaking also with last week’s lows. In yesterday’s live session I talked about looking for shorts on a retest of the previous broken level (153.00)

During the Asian and the European session we saw the pullback to that exact level. However shorts were not confirmed as you noticed when price got through our SL level on our pending order. This is why we mostly use stop orders to get triggered on our trades.

Price eventually dipped on a GBP bearish move (USD strength) and our validation level is the break of today’s lows for a retest of June 21st lows.

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Author : Orlando Gutierrez

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