FOREXCOM:GBPJPY   British Pound / Japanese Yen
Price has shown that it has failed to break resistance and push price higher before market close on Friday and by looking at the candle pattern high before this one the same candle pattern has appeared and then price went down afterwards. I feel that price will head down due to this and due to the triple top that has been formed. If price comes down to 140.623 I will be looking at getting short and holding until the support level . This will be a RR of 2. If price breaks above resistance and retests and still heads up then I will be looking at getting long at 141.809 and holding until previous support. This will be a RR of 4.

Let me know what you guys think and make sure to do your own analysis before placing a trade.

Good Luck


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