We can see that GBPJPY has recently broken its positive trend line and started to establish bearish nature. I have established a descending triangle with a targeted entry:182.644.
Reasons to take:
- Stochastic is downward facing, below 50, oversold (%D is currently touching %K so waiting for it to be above).
- Momentum is declining and negative.
- Riding it’s lower BB
Reasons to take:
- Stochastic is downward facing, below 50, oversold (%D is currently touching %K so waiting for it to be above).
- Momentum is declining and negative.
- Riding it’s lower BB