Monday, April 26, 2021 8:40 AM EDT
The GBP/JPY has been breaking below the trend line after successfully making 1-2-3 pattern sell.
Last week I saw a potential for the short. However, the shorts happened after point 3 has been printed out and now we see that trend line is being tested. It has already been taken out, so if sellers manage to hold below the trend line in the next 2 hours, we should see a move down. Intraday targets are 149.20 followed by 148.90. For swing traders 147.70 could be the final target.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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