Top down analysis
Weekly timeframe
we see gbpjpy forming "lower lows" and ''lower highs'' which indicate a downward trend plus more confirmation on the EMA being above the price action indicating that still we are in a downwards trend
Daily timeframe
we see EMA also indicating a continuation of downward trend being above the price action plus price breaking key support level around 132.500 which price have tested that level twice as resistance and we saw a good rejection
H4 timeframe
we see price forming similar downtrend and we see price rejecting the 78.2% fib level plus a good ema cross in the h4 timeframe which indicate bearish momentum towards downside
H1 timeframe
last week we saw price dropping and ema cross over indicating continuation to downside .tomorrow we shall see price probably testing 131.725 key level before continuing to downside cause we see ema are pointing sideways or test the downward channel . so hope you guys can caapitalized on setup i am looking at next week goodluck
Weekly timeframe
we see gbpjpy forming "lower lows" and ''lower highs'' which indicate a downward trend plus more confirmation on the EMA being above the price action indicating that still we are in a downwards trend
Daily timeframe
we see EMA also indicating a continuation of downward trend being above the price action plus price breaking key support level around 132.500 which price have tested that level twice as resistance and we saw a good rejection
H4 timeframe
we see price forming similar downtrend and we see price rejecting the 78.2% fib level plus a good ema cross in the h4 timeframe which indicate bearish momentum towards downside
H1 timeframe
last week we saw price dropping and ema cross over indicating continuation to downside .tomorrow we shall see price probably testing 131.725 key level before continuing to downside cause we see ema are pointing sideways or test the downward channel . so hope you guys can caapitalized on setup i am looking at next week goodluck
