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UnknownUnicorn36651192

GBPJPY short idea

Short
Livre sterling / Yen japonais (FOREXCOM:GBPJPY)  
UnknownUnicorn36651192  
FOREXCOM:GBPJPY   Livre sterling / Yen japonais
Trend Analysis Support and Resistance Supply and Demand GBPJPY gbpjpyshort gbpjpyanalysis Forex analysis
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trendanalysis supportandresistance supplyanddemand gbpjpy gbpjpyshort gbpjpyanalysis forex analysis
Given that GBPJPY is in a bearish trend, we have two probable setups on this:

1- Market breaks the support, retests the broken support now turned resistance. Rejects the resistance and continue down.

2- Market continue corrective its bearish leg. Once it taps the resistance and the descending channel trendline, it faces rejection with a pinbar or engulfing. Then it starts to fall down.

We will continue playing this setup until something else arises.

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