GBPJPY - Intraday - We look to Sell a break of 155.94 (stop at 156.25)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of yesterdays low would confirm bearish momentum.
We are trading at overbought extremes.
A higher correction is expected.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our profit targets will be 155.07 and 154.87
Resistance: 156.80 / 157.10 / 157.40
Support: 156.40 / 156.10 / 155.80
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A break of yesterdays low would confirm bearish momentum.
We are trading at overbought extremes.
A higher correction is expected.
The bearish engulfing candle on the daily chart is negative for sentiment.
Our profit targets will be 155.07 and 154.87
Resistance: 156.80 / 157.10 / 157.40
Support: 156.40 / 156.10 / 155.80
