On the GBPJPY chart, we can see that the pair has been rejected from the previously broken uptrend line and a 55 WMA 148.194 level. If we get a daily close like this we could expect a downside continuation into the 142 level. Invalidation of the downside move only in case of a break above the 148.195 level.
Note: look for the short trade entries with the SL above the 148.100 level.
Proprietary trading!
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!