GBP/JPY – Weekly. The Rising Wedge Pattern
GBP/JPY reversed from the top of a weekly rising wedge while showing a bearish divergence on the RSI indicator.
Price broke out of the pattern, and it has the potential moving lower.
In the coming period, we can consider shorting the pair, with a stop loss above 154.50.
Based on the rising wedge’s height, the target should be 127.20.
If you’d like to take this trade, you should consider getting an account with Lirunex. They’re a regulated broker with the best commissions in the industry.
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