GBPJPY Three Bearish Signals

the Japanese Yen has been declining over all pair combinations. We are seeing very bearish behaviour that expresses itself in the following three aspects:

1) The RSI is oversold
2) There has just been a bearish breakout through a horizontal zone
3) The price reached below the BB

Of course, it's not sustainable for the price to keep dropping, but we need to find a logical point of return.

I chose the Horizontal Area of 126.4 for this, as this would be the first logical place of support.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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