DislikedStill learning about this system..
But anyone following GBPJPY 4 hours chart? It just completed a recent swing and going back down. Any comments?Ignored
* * Not trade advice... just my thoughts... * *
I don't trade G/J myself but a quick glance at the charts and I would say the H4 trend is down but the daily is range-bound between the key levels 140 and 150. A break (and hold) below 140 would signal further losses.
The general outlook for GBP this week has been bearish and JPY has been bullish so this would add to the short bias.
I think price action around the 140 level may help here. If we get a bullish reaction off this level then we may see 150 on the horizon but if that doesn't happen that would add further reason to sell!