GBPJPY: Excellent sideways opportunity

GBPJPY is bearish on the long term as it remains under the 1D MA50 (right chart) with technicals all in red (RSI = 41.765, MACD = -0.860, ADX = 25.857) despite trading within a range since the end of December.

This range is practically what we want right now as the sideways price action offers the best scalping opportunity for at least the next week. The price is approaching S1 where we will long to R1 and reverse to a short. Repeat until either the top of R1 and bottom of S1 break.


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