Hello friends, I am getting conflicting signals from the GBPJPY Chart. On the hourly chart, it looks like downtrend is dominant. A break below the lower TL of the structure will confirm the bearishness.
However, have a look at the daily chart here.
The last two daily candles indicate that bears may have run out of steam. Although I made close to 150 pips from my two GBJPY sells last week, I will not rush into selling this cross without some solid confirmation.
I will wait for some confirmation before selling further. I suggest everyone to be a bit cautious while trading the Dragon.
However, have a look at the daily chart here.
The last two daily candles indicate that bears may have run out of steam. Although I made close to 150 pips from my two GBJPY sells last week, I will not rush into selling this cross without some solid confirmation.
I will wait for some confirmation before selling further. I suggest everyone to be a bit cautious while trading the Dragon.
