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IkanBilisCapital

Downside confirmed but will GBPJPY have a final trap?

Short
British Pound / Japanese Yen (FX:GBPJPY)  
IkanBilisCapital  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators gbpyjpy GBPJPY gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpyforecast
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trendanalysis chartpattern indicator gbpyjpy gbpjpy gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpyforecast
The pund yen broke down as expected this week, we are looking for more downside in the coming days. However, we need to watch our stop loss as it's an easy level to manipulate.

BEAR CASE
Price looks ready to move farther down from here, we are targeting 150.

BULL CASE
A fake out to liquidate leveraged shorts may happen by moving price to the 155 levels before the bear case is fulfilled.
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