GBP/JPY Trading Analysis (23/08/2024)

The trend is descending. The currency pair is trading in the range between 365 and 135 ЕМА. The upward wave structures are truncated. Below 135 ЕМА the fractal pattern for the beginning is forming. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

• Sell at the breach of the fractal indicator for the start at 190.090.
• Stop-loss at 192.000.
• Price targets at 188.500, 185.000.

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