Looking at GbpJpy , price has been establishing a bearish downtrend channel ever since we’ve come up to the long-term Weekly Resistance Level . Within this downtrend channel , price has now found itself approaching a Significant Daily Level and Non-Horizontal Resistance Level . This pivot point could be a catalyst to drive price towards the downside. For confirmation, I’ll be waiting for a strong bearish H4 candle closure before verifying that any seller sensitivity is present around this area. If there is, sell orders will be viable.


<a href="http://www.instaforex.com/?x=YOUR_PARTNER_LINK">InstaForex</a>
See also  HOTLIST - Trade re-cap and Market Analysis for OANDA:GBPJPY by BenFxLDN