GBPJPY Will Go Lower! Sell!

Take a look at our analysis for GBPJPY.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 190.950.

The above observations make me that the market will inevitably achieve 189.762 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

تعليق:

Great beginning for a trade, let’s hope it goes further!