Sell GBPJPY Channel Breakout

The GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming minutes or hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 190.62, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: Initial bearish targets lie at the previous support levels within the channel 190 and 189.62

Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 191.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

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Dagangan aktif:

Stronger JPY: The Japanese Yen (JPY) has strengthened recently due to its safe-haven status amid ongoing geopolitical tensions and concerns about a global economic slowdown. This could put downward pressure on GBP/JPY.

Weak UK Data: Recent data releases from the UK, including weaker-than-expected GDP growth and retail sales figures, continue to raise concerns about the UK economy. This could weaken the Pound Sterling (GBP).

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2nd Target Reached With Good Profit