If you like excitement and to maybe give yourself opportunity to make some potential quick profits you should look at #GBPJPY.
GBP/JPY is a pair widely followed by scalpers and #Forex day traders because of his wide and volatile swings on a day by day basis. On top of that there is enough liquidity in the pair for scalpers to quickly get into and out of trades.
GBP/JPY is also a widely followed market for the medium term and longer term traders.
Let`s take a look at current market conditions:
GBP/JPY M5 Chart
Difference in direction from RSI and price movement- Divergence
GBP/JPY M15 Chart
RSI is in oversold territory followed with strong selloff
GBP/JPY H1 Chart
Look at RSI and support line! One more time RSI is in oversold territory vile price slightly cruise on support line
GBP/JPY D1 Chart
At this time frame we have RSI in deeply oversold territory. Price is on 23.6 Fibo level which in this case can use us as a support line or as a braking point.
Depending of your strategy and risk aversion you should trade this opportunity with proper risk management.
If you prefer to take a deeper dive and to hold a breath for some time you should consider this example:
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