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JohnnyB61887

GBP JPY - Short Observed on Weekly Time Frame

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Paun British / Yen Jepun (FX:GBPJPY)  
JohnnyB61887  
FX:GBPJPY   Paun British / Yen Jepun
Trend Analysis GBPJPY gbpjpyshort priceaction priceactionanalysis Pin Bar pinbarsetup keylevel
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trendanalysis gbpjpy gbpjpyshort priceaction priceactionanalysis pinbar pinbarsetup keylevel
The weekly chart for GBP JPY is telling a story. It starts with showing a broken trendline. As you can see on my chart, the trendline is broken to the downside and then retested (also retesting a major level of resistance). At this meeting point, a weekly pinbar is formed (highlighted in green). Price shows us a rejection as its reaction. There are only 3 main objectives from this point:
1. Set a stop loss
2. Set a target
3. Let price do its thing
Penafian

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