GBP/JPY Trading Analysis (15/08/2024)
The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell when the formation of the descending wave structure begins, when the wave A breaches the 188.350.
- Stop-loss at 189.550.
- Target levels at 185.800 and 181.000.
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