GBPJPY Sell the neckline setup.
GBPJPY - Intraday - We look to Sell a break of 155.94 (stop at 156.27)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
155.95 has been pivotal.
A break of 155.95 is needed to confirm follow through negative momentum.
We are trading at overbought extremes.
A higher correction is expected.
Short term bias is mildly bearish.
Our profit targets will be 155.06 and 154.86
Resistance: 156.50 / 156.80 / 157.00
Support: 156.00 / 155.50 / 155.00
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
155.95 has been pivotal.
A break of 155.95 is needed to confirm follow through negative momentum.
We are trading at overbought extremes.
A higher correction is expected.
Short term bias is mildly bearish.
Our profit targets will be 155.06 and 154.86
Resistance: 156.50 / 156.80 / 157.00
Support: 156.00 / 155.50 / 155.00
