Hi friends,
For some time, I am talking about the JPY pairs. Now for the first time for long time, we got some false breaks on some pairs. The main interesting things for me – USDJPY and GBPJPY.
Let’s see what I talk about.
GBPJPY 4H (Click to enlarge):
There was a very clear false break during divergence, on a top. That could be the beginning of the down move to the trend line.
And here is the USDJPY 4H:
While the GBP already broke the low, USDJPY still didn’t. Break below the marked low should open the doors for a move down to the range on the chart with final target at the GAP price.
Is that the sign for a retrace? Even if not, it is a sign that the bears are getting in. And if not with this break, it’s about to begin within few weeks max.
So good forex trading friends
Yours,
Vladimir Ribakov
http://www.vladimirforexsignals.com/
