Technical analysis by AMEGA - Opinion
Fundamental analysis: markets tend to move to the limit, and confirmation of this – a powerful short-term bearish trend GBPJPY. Over the past week, the price fell to March lows. There are no important economic news today.
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 chart D1 - the fall of the "Alligator" is well opened down, and prices go down almost steeply, at an acute angle – this is an indicator of the strength of the trend. As a rule, such trends do not unfold quickly.
Trading recommendations: we need a profit - follow the bearish trend. The cancellation of this option and the transition to long positions – with a reliable breakdown of the two-day high at 146.575.
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.