A great opportunity for Shorting GBPJPY

FX_IDC:GBPJPY   British Pound / Japanese Yen
Weighted average Yen has reached to a very strong support as you can see here

Also as you know we are bearish on Sterling. See the wedge formation below. After vising the upper band of the wedge it is heading down. You can guess the target for Sterling! Yep the lower band of the wedge formation.

If sterling heading lower and YEN is about to bounce then GBPJPY is a good Short trade.


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