GBP/JPY - Short?
I'm not calling the top yet but I like what I am seeing here.
I have added MACD 'out of interest sake'.....only because I know a lot of people like this indicator as it can be helpful to add weight to a previously held conviction.
1) Closed below a trendline (albeit a steep one)
2) EMA(20) slope is now negative
3) MACD Histogram is now negative (no surprise as its measures similar to EMA)
4) MACD Divergence present (Signal Lines and Histogram in 2 places)
5) Long term downtrend line has been respected.
I suspect the breakdown is not too far away.
I'm not calling the top yet but I like what I am seeing here.
I have added MACD 'out of interest sake'.....only because I know a lot of people like this indicator as it can be helpful to add weight to a previously held conviction.
1) Closed below a trendline (albeit a steep one)
2) EMA(20) slope is now negative
3) MACD Histogram is now negative (no surprise as its measures similar to EMA)
4) MACD Divergence present (Signal Lines and Histogram in 2 places)
5) Long term downtrend line has been respected.
I suspect the breakdown is not too far away.