I wanna to make a prediction that GBP/JPY will go downward in several few days.
Here are some reasons:
1. According to MACD, there have been a cross at this moment, hence we can assume that the price of GBP to JPY will fall in future.&nbsp;
2. If we combine these two days' data, there is a kind of engulfing pattern in rectangle, which might means signal of reversal.&nbsp;
And the effect of election in the UK is fading, adjustment for GBP is foreseeable.&nbsp;
For one more reason, according to previous statements, Japanese Government said that they noticed influence of low interest rate on economic development. Therefore, &nbsp;BoJ Interest Rate Decision on today should be paid attention to. In my opinion, the negative interest rate could possibly be changed.
Hence, I want to hold a short position that:
Sell GBP/JPY
at 143.300
Stop Loss at 147.2
Take Profit at 140.8

Prediction for GBP/JPY

Samuel Shi

Dec 01 2020

Take Profit +1.74%

Holding time 270d 6hr

143.300

Entry price

140.800

Take profit price