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gillianpatrice

GBP/JPY - Wait for the retest of the upward support

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
gillianpatrice  
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Fibonacci Trend Lines
4
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trendanalysis fibonacci trendline
I am looking for a short on this pair.A retracement has occurred after the steep fall and price has now retested the 0.382 three times and looks like it could head toward the profit target of the last corrective swing of 127%. Each fib level should see bulls trying to buy to push price up so make sure you are vigilant with your stop losses and move them to break even as soon as you are ahead. Wait for the upward support to be broken by a daily candle then retested and take on the shorter time frame to ensure accuracy.This is the most uruly pair in FX to trade.
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