GBPJPY is Bearish - We look to Sell at 133.80
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ We have a 61.8% Fibonacci pullback level of 133.62 from 135.45 to 130.66.
▪️ Bespoke resistance is located at 133.80.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 133.80, resulting in improved risk/reward.
Stop: 134.30
Target1: 131.05
Target2: 130.70
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ We have a 61.8% Fibonacci pullback level of 133.62 from 135.45 to 130.66.
▪️ Bespoke resistance is located at 133.80.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 133.80, resulting in improved risk/reward.
Stop: 134.30
Target1: 131.05
Target2: 130.70
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