TRADERS - Attention!

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:

Trade safe

R&D Consulting