GBPJPY: Head and Shoulders formed. Sell signal.

14 Mar

GBPJPY is neutral on its 1D technical outlook (RSI = 50.345, MACD = 0.240, ADX = 29.640) as the recent bullish run came to an end on the HH trendline. For now the 1D MA50 held but the peak pattern formed is a Head and Shoulders. The 1D MACD is on a Bearish Cross, so the short signal is complete. Our target is the S1 level, potentially a contact with the 1D MA200 (TP = 185.500).

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##