GBPJPY - Intraday - We look to Sell at 153.62 (stop at 153.92)
Broken out of the channel formation to the downside.
Price action continued to range between key support & resistance (152.80 - 153.60) although we expect a break of this range soon.
The bias is to break to the downside.
20 4hour EMA is at 153.68.
50 1day EMA is at 153.83.
We look for a temporary move higher.
There is no clear indication that the downward move is coming to an end.
Our profit targets will be 152.78 and 152.58
Resistance: 153.30 / 153.70 / 154.00
Support: 153.00 / 152.80 / 152.50
Broken out of the channel formation to the downside.
Price action continued to range between key support & resistance (152.80 - 153.60) although we expect a break of this range soon.
The bias is to break to the downside.
20 4hour EMA is at 153.68.
50 1day EMA is at 153.83.
We look for a temporary move higher.
There is no clear indication that the downward move is coming to an end.
Our profit targets will be 152.78 and 152.58
Resistance: 153.30 / 153.70 / 154.00
Support: 153.00 / 152.80 / 152.50
