Technical analysis by AMEGA - Opinion
Fundamental analysis: short-term trend GBPJPY changed from bullish to bearish. After the breakdown of the psychologically important resistance level 150.000 prices go down powerfully, stopping at the next level with "round numbers" - 147.000. Of the important economic news in England today – consumer price indices.
Technical analysis: the long-term bearish trend that began in summer 2007 has not yet turned around reliably. The medium-term trend is bullish since August 2017. Let's pay attention to the H1 chart: the alligator's mouth is opened down, and the price goes down almost steeply, at a very sharp angle – this is an indicator of the strength of the trend, which is likely to continue.
Trading recommendations: we need a profit, so we follow a bearish trend. Cancel this option, and switching to long positions when the authentic breakdown-day high of 149.721.
Sincerely, Sergey Ryazantsev - financial analyst of brokerage company AMEGA
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It’s recommended to try to have a short position near the control resistance zone 1.13742-1.13650 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.