GBPJPY

Good Morning Dynamic Traders,

"Better to have tried and failed, than not tried at all"

This is my 1st post of what I hope many over the weeks to come. Thank you to Javid & Anne for giving me the opportunity to progress in my trading, by becoming accountable to you my fellow traders.

Below is the Daily chart of the GBPJPY

Points to note:

1. The MA's are nicely stacked up in a downward trend formation
2. This cross usually pulls back to the 20 day MA
3. We have recently had a double bottom
4. We have a round number of 140.00
5. We also have MACD convergence

With these points in mind, even though we are going against the trend, a pullback is likely towards the 20MA.

Source: Advanced Get

Bag your pips !

John Maher