Tonight I want to sell GBP/JPY around 133.45 with a TP 132.85 and SL 134.01.
There should be fairly good resistance if we start to see 133.50 being tested and this is pretty much the main resistance we can count on based on the 4 hour and hourly charts. The RSI looks to be topping out as well. 100EMA is pretty far off which signals a possible retraction. Finally this looks to be the 5th wave of the rally on the 4 hour so it should start to loose steam.
The minute charts are showing a generally bullish range between 133.10 and 133.60, but the question is will 133.60 hold or will we even get there.
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